The
infrastructure sector that expected continued thrust from the government
towards revival of investment cycle in the form of further increase in
budgetary allocations towards infrastructure sector with focus on roads, railways
and urban infrastructure has received investment allocation of Rs 5.97 lakh crore during FY19, according to the
union budget 2018, up by over Rs 1 lakh crore from the ongoing fiscal.
The finance minister has
expressed confidence in completing the construction of 35000 km of highways
under the Bharat Mala project with highway construction to exceed 9000 km by
end FY18. These initiatives are set to generate demand for commercial vehicles
and construction equipment for transporting goods and construction material.
Also, high allocations for infrastructure are expected to be positive for
tipper trucks.
Besides, as part of the agriculture
market infrastructure fund, Rs 2,000 crore has been earmarked for 22,000 agriculture
markets and rural roads by 2019.
The Budget has earmarked Rs 2.04
lakh crore for the Smart City Mission
with 99 cities selected for development in FY19, about 10 cities to be
developed into iconic tourist destinations to attract more visitors.
Further, 147 projects have been
sanctioned under the Namami Gange programme for FY19 with 47 projects having
been already completed for cleaning the Ganga waters.
All these varied projects will
help push shipment of vehicles not only through roads and highways but other
modes of transportation as well.
The 2018 budget demonstrates a
very significant push on infrastructure; including rural infrastructure, automotive
sales boost, as well as for immediate job creation as well as supporting
long-term employability through education and skill development.
Budget while pushing the sales of
new commercial vehicles is expected to robust the demand for used commercial
vehicles, construction and agriculture equipment as well.
‘The focus of government to revive the infrastructure of the country
clearly shows their emphasis to add a strong push on the ongoing brilliant
automotive industry. Though we expected something for e-vehicle as well but
overall we are happy about the 2018-19 budget and hope that it continue to
focus on our industry as it adds significantly in the country’s GDP.’ said
Mr. Sameer Malhotra, CEO Shriram Automall.
Shriram Automall India Limited(SAMIL) - The largest service provider of used automotives in the country is
certainly expected to record the major sales, as company through selective best
in class inventory for used vehicles and equipment of every make and model is
best known for serving major demands in every nook and corner of the country.
If you as well are looking
forward for acquiring or disposing any type of used vehicle or equipment, visit
your nearby Automall today or click the link below for convenient and free
registration.
Link: www.samil.in
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