When it comes to the Budget 2019 impact on the Automobile industry, there is nothing that we can correlate directly. This time the bag of the Finance Minister did not bring direct changes to the automobile industry. But if we go through the assessment of the budget 2019 then there are surplus fruits in the hands of the automobile sector too. Let us check some important points.
- Green and clean India will give a boost to electric vehicles
- Tax exemption on 5Lakh yearly income will benefit the automobile sector
- MNREGA funds will be positive for the agricultural infrastructure
These were the key points of Budget 2019 that will surely affect the automobile industry in a positive way. It will help the sector to move forward. Let us check in detail concerning the Budget 2019 impact on the Automobile industry.
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Green and clean India
Let us first take the Green & Clean India. It was made quite evident in the budget, that this time the sheer importance will be given to the green and clean India. And for this, the pollution level has to be decreased. This can only be possible with the help of electric vehicles. Though it is a challenge for the automobile giants, but they have welcomed it with open hands. As this will increase innovations and will revolutionize the sector too.
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Tax exemption on 5Lakh yearly income
It clearly means that if your yearly income is less or equal to five lakhs then there is no need to pay the taxes. This means now the middle-class people will have a lot to save and they can invest in vehicles without any extra trouble.
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MNREGA funds impact
The Budget 2019 impact on Automobile industry can be seen in the agricultural sector. As with funding the scheme with 60,000Cr. will bring opportunities for the farmers of all classes. Now they can invest in tractors, two vehicles and other infrastructure needed for the betterment of their fields. This will be a positive point for the agricultural and automobile sectors both.
Budget 2019 impact on Automobile industry
At this moment, these were some benefits of the Budget 2019 but it does not seem to be enough for the sector. Today there are unremitting augments in the competition. And here every day a new luxury car is being launched. The government should have thought about something firm with regard to the sector. Overall Budget 2019 impact on Automobile industry will not be worst and will not be as good as it was being expected.
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