What TV doesn't, print can't; we deliver.
What TV doesn't, print can't; we deliver.
Pawan Munjal, Executive Chairman of Hero MotoCorp, expressed confidence in the budget’s potential to stimulate consumption, attract substantial investments, and stabilize inflation while maintaining a focus on economic growth and fiscal responsibility.
NEW DELHI: Finance Minister Nirmala Sitharaman tabled her seventh Budget on July 23, 2024. Pawan Munjal, Executive Chairman of Hero MotoCorp, expressed confidence in the budget’s potential to stimulate consumption, attract substantial investments, and stabilize inflation while maintaining a focus on economic growth and fiscal responsibility.
Munjal stated, “The Government of India has undertaken exemplary initiatives to fuel the next generation of economic reforms. With an optimistic growth forecast of 7% for the fiscal year 2024-25, this budget reflects the significant progress our nation has made across various sectors. It embodies the government’s vision of a #ViksitBharat, emphasizing on employment & skill development, infrastructure advancement, manufacturing, energy, technology & innovation, and research & development.”
The Budget 2024 didn’t introduce the widely-expected FAME 3.0 (Faster Adoption and Manufacturing of Electric Vehicles), targeting the affordability and adoption of electric two-wheelers. Industry experts thought that this initiative would help accelerate the growth of electric mobility in the country. However budgetary allocation of Rs 2.66 lakh crore for rural development including spend on rural infrastructure has typically benefited two-wheeler manufacturers.
Shares of the world’s largest two-wheeler company Hero MotoCorp surged up to 4 percent following a budgetary allocation of Rs 2.66 lakh crore for rural development including spend on rural infrastructure.
“The provisions for the rural economy and infrastructure, coupled with land reforms and ease of doing business, will further boost the overall economy. Furthermore, this budget reinforces our commitment to supporting youth, farmers, women, and the underprivileged, ensuring inclusive growth and prosperity for all.” added Munjal.
“This budget reflects our nation’s commitment to inclusive growth,” remarked Dr. Munjal, “with provisions aimed at bolstering the rural economy, implementing crucial land reforms, and enhancing ease of doing business.” He underscored the budget’s role in supporting marginalized communities including youth, farmers, women, and the underprivileged.
Furthermore, Budget 2024 positions India as a technology-driven and knowledge-based economy, reinforcing the country’s commitment to sustainable development. Dr. Munjal praised the budget as a decisive step towards realizing India’s national aspirations and strengthening its global standing.
