The much-awaited union budget presented by Finance Minister, Mr. Arun Jaitley shows immense promise for the country.
The Union Budget 2018 is the last full budget by the NDA government. In their first couple of years, this government opened the economy on the backs of some important policies and going after black money. In the following years, we had multiple shocks to the status quo with the onset of demonetization and GST implementation.
The increased expenditure in infrastructure to INR 5.97L crore is rightfully been directed towards will help make India more competitive by reducing supply chain jobs. It shall also contribute to the growth in jobs and exports.
Commenting on the above, Mr. Suresh KV, Country Head, ZF India, said “The huge push given to infrastructure in the Union budget by the government is a good move. Construction of 35000 km of highways under the Bharatmala project with highway construction to exceed 9000 km by end FY18 and the government has also allocated Rs 2.04 lakh crore for the Smart City Mission with 99 cities selected for development in FY19. These policy moves are set to increase employment opportunities and create demand for commercial vehicles & construction equipment. “
“Additionally, the extension of 25% corporate tax benefit to organizations with turnover up to 250Cr is also a welcome move. All in all, we at ZF are looking forward to this financial year as this budget gives us the motivation to continue on our path of futuristic and sustainable growth, “ he added.