Union Budget 2018: The focus on infrastructure developmen will play a key role in the growth in lubricants industry- Gulf Oil
The Union Budget, presented yesterday by Arun Jaitley, the Finance Minister didn't seem to touch the automotive sector directly at all. But we you shall see soon, it did. The auto sector happens to be too large to be unaffected by changes elsewhere.
Ravi Chawla, managing director, Gulf Oil Lubricants India Limited
"The Union Budget FY2018-19 lays out a robust framework to ensure India's long-term economic growth. While, the Government's decision to focus on the rural economy facilitates a broad-based economic growth, it would also be beneficial to spur a promising growth among diverse sectors, especially auto, auto ancillaries and FMCG.
The focus on infrastructure development with enhanced allocation of almost Rs 6 lakh crore in FY19 will play a key role in propelling the growth in lubricants industry witnessing positive development in heavy vehicles and construction equipment segments.
The Finance Minister stated that the Government's focus is shifting from 'Ease of Doing Business' to 'Ease of Living'. We believe that the identification of 99 smart cities with an allocation of Rs. 2.4 lakh crore, is a step towards this direction. Such measures would undoubtedly supplement the infrastructure development programmes."
- NewsVinales secures pole position for 2018 MotoGP season finale in Valencia, Marquez qualifies fifth despite crash
- News2018 JK NRC: Nayan Chatterjee and Karthik Tharani take Euro JK 18 championship down to the wire
- Review2018 TVS Radeon road test review
- News2018 Mahindra Alturas G4: Preliminary image gallery
- NewsVinod Dasari resigns as MD and CEO of Ashok Leyland
- Review2018 Kawasaki Ninja 400 road test review
- NewsSpec comparo: Jawa vs Royal Enfield Classic 350
- NewsMercedes-Benz C-Class facelift petrol to launch in India by the end of 2018
- NewsImage gallery: 2019 Mercedes-Benz CLS launched in India at Rs 84.70 lakh
- News2019 Kawasaki Versys 1000 bookings start in India, deliveries post April 2019