Mahindra &
Mahindra Quote on Budget 2016-17
The statement from
Dr. Pawan Goenka, Executive Director, M&M Ltd, post the Union Budget.
“The Budget places strong
emphasis on agriculture, rural economy, infrastructure and social sector. This is what I was hoping for. The resurgence
and thrust on the PPP in infrastructure is most welcome. I also appreciate
laying down some very clear goal posts on farm income and on village
electrification. Perhaps more could have
been done for financial sector and taxation, though staying with the FRBM
target was an unexpected bold move and perhaps does put some spending
constraints on the Government.
On the face of it,
imposing upto 4% Cess for Passenger vehicles is a concern for auto industry.
However, one has to take it in stride, in view of all the priorities that we
have for our economy and we in the industry have to manage it. Would have been
good if some of the additional revenue from this cess was used to phase out
older vehicles.”
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