The Union Budget is likely to be declared on February 20, 2016. We caught up with Audi India head, Joe King, who said thatthe German carmaker wants this year to be about reviving "customersentiment".
"The Government had presented a budget with focus on long-term growth of the country in FY 2015-16 and we expect a similar budget this year which is pro-growth. Improving consumer sentiment and creating demand is a priority for both the industry and the Government, and we expect the forthcoming budget to address this."
"The simplification of tax structure will be a big step forward as currently differential pricing and taxes across states makes it very complicated. Therefore introduction of GST will go a long way in helping in ease of business.
Reduction in excise duty on cars and SUVs will go a long way in boosting sentiments of the entire auto industry that accounts for a significant share of the country's manufacturing gross domestic product (GDP) and is one of the biggest job creators, both directly and indirectly.
Continued focus on improving road infrastructure is also a prime area of interest for entire auto industry.
We are happy to note that the GDP growth in FY17 is likely be between 7 and 8 per cent which is impressive in the current global scenario. We are looking forward to a revival in customer sentiment which would contribute to higher consumption."