The automotive sector is also encouraged by the new scrappage policy, which will positively impact the entire value chain by creating more demand in the sector and giving a boost to the economy. Adequate funding to scrap old government vehicles and ambulances will create additional demand for small & medium commercial vehicles, which will also lead to more job opportunities in the sector.
The Government’s biggest-ever allocation for Indian Railways will ensure a more efficient, safe, and sustainable transportation system, it will also trigger new opportunities and growth in the railway component manufacturing, maintenance, and operations systems.
The Government’s achievements so far and plans to strengthen the economic empowerment of women and tourism are highly admirable. Opportunities created by such liberal initiatives will provide a strong impetus to job creation & strengthening macroeconomic stability.”