The nervousness from the automobile industry regarding the budget has vanished with the Pranab Mukherjee formulated budget. Most of the automobile manufacturers have commended the excellent budget proposal, especially favoring the Indian automobile industry. Many patriarchs from the company have already raised the toast for this budget.
Amongst the slew of budget praisers are General Motors India MD, Karl Slym and Bajaj Auto MD Rahul Bajaj. The former has openly said that the entire GM family is elated with the budget proposal as its incorporates the welfare of the Indian public by concentrating on the agricultural part, industrial as well as the automotive part. The decision of the Government not to raise excise duties is a welcome move since many were of the opinion that the budget would bring about an increase in the price of cars by this month. He also praised the R&D initiatives and incentives that the government is taking for developing green vehicles. Bajaj Auto MD said that the demand for bikes would now increase since the prices would remain the same for a few more months until rising input costs take over the sensibilities of the finance planners in all the companies.