The Union Budget 2021 was deemed as the “once in a century budget” even before it was made public. After a pandemic marred 2020, the ask was for bold reforms to address and alleviate pain points, both from the supplyside and demand-side perspective. Finance Minister Nirmala Sitharaman was dealing with expectations that had skyrocketed. On February 01, 2020, when she uttered the first word from her speech on the ‘Made In India’ tablet, the departure from the traditional practice of reading out from the “Bahi-Khata” or cloth ledger was interpreted by pandits as a metaphor for change. The government, in an attempt to tone down the soaring expectations, had on the eve of the budget, cited the sector specific ‘tranches’ as having already addressed most pain-points in the form of ‘mini-budgets’. This Union Budget was deemed as a consolidated account of the mini-budgets. The government , it was evident, walked the rope of maintaining a tight fiscal plan with the RE 202021 at 9.5 per cent compared to the budgeted level of 3.5 per cent of GDP (attributed to increased expenditure on various schemes announced by the government in light of the pandemic). The industry, however hoped for additional support to reverse the negative impacts of the pandemic induced de growth as it had repeatedly sounded off the expectations on both the supply-side and the demand-side concerns ahead of the D-day.
Budget outlay for the sector
Esta historia es de la edición March 2021 de Auto Components India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición March 2021 de Auto Components India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
RENESAS UNVEILS MULTI-DOMAIN SOC.
Renesas Unveils 5th-Generation Multi-Domain SoC for ADAS, Infotainment and Gateway Systems
BORGWARNER SECURES NEW HVCH PROGRAMS
BorgWarner has secured three significant business wins for its High Voltage Coolant Heater (HVCH) technology, expanding its reach in the Chinese, Korean and Japanese electric vehicle markets.
RESHAPING REALITY
Abhiyantriki, the 26th annual technical fest of K J Somaiya School of Engineering at Somaiya Vidyavihar University, took place at its Mumbai campus under the theme ‘Reshaping Reality’, focusing on futuristic innovations and real-world problemsolving.
CONTINENTAL TIRES INDIA CELEBRATES CONTINUED PREFERRED PARTNER STATUS
Continental Tires India reaffirms its dedication to customer-centric solutions and operational excellence through its sustained partnership with Mercedes-Benz AG.
ACMA IAUTOCONNECT 2024
The Automotive Component Manufacturers Association of India (ACMA), hosted the ninth edition of its premier buyer-seller event, iAutoConnect, at Yashobhoomi in New Delhi.
4TH ACMA AUTOMOTIVE RAW MATERIALS CONCLAVE
The 4th Automotive Raw Materials Conclave focused on automotive innovations and sustainability in nonferrous materials, writes Richa Tyagi.
MOBILITY PLAYSETS
Even as the Indian automobile industry touches new heights and innovations, it is the commercial mobility play sets that continue to be a major draw. It is a good starting point for the next generation, writes Prajakta Chavan Rane from her plant sojourn.
SUSTAINABILITY AS STRATEGY
In an Industry Talk session, Satyakam Arya Managing Director and CEO, Daimler India Commercial Vehicles spoke to Ashish Bhatia on integrating sustainability into the overall business strategy.
EMBRACING SHOPFLOOR AUTOMATION
In manufacturing, where precision, efficiency, and cost-effectiveness are paramount, Mahindra Mahindra has embraced shopfloor automation as a cornerstone of its strategy
FREUDENBERG EXPANDS MANUFACTURING FOOTPRINT
Freudenberg opens two state-of-the-art manufacturing plants in Morinda, marking its largest investment in expanding the manufacturing footprint in India, writes Richa Tyagi.