P B Balaji, Group CFO, Tata Motors said the Budget is an articulation of purposeful intent enabled by a clear action plan. Building on last year's Finance Bill, the government has wisely continued on the path of prioritising economic growth with calibrated fiscal prudence. For the Indian automobile sector, which is a significant contributor to the nation's GDP, the Budget offers continuity and also additional opportunities to drive multi-year growth.
The robust increase in Capex by 35.4% to INR 7.5 lakh crore and a comprehensive investment plan for infrastructure is a significant growth booster. Additionally, the launch of Gati Shakti programme for multi-modal transport, including 100 cargo terminals and investments in 25000 Kms of highways, apart from investments in ports and metros, is an excellent development that will help create a world-class transport infrastructure in the country. 'This will reduce logistics costs and transit times, increase employment and make us globally competitive with avenues for better and efficient mobility solutions. Additionally, plans to create EV charging infrastructure, including national policy for battery swapping, which when combined with the already announced Automotive PLI scheme, furthers the agenda for green mobility,' he added.