Syed Sajjadh Ali, Managing Director – India, Electrical Sector, Eaton said, “The Union Budget 2021 has envisaged positive outcome for the manufacturing sector. A 34% increase in budgetary allocation towards infrastructure in the next fiscal is a move that will enhance manufacturing, generate employment; thus will act as a multiplier for economic growth.
Allowing more Discoms is a welcome move especially for the consumers. It will offer more options for consumers to choose from, and facilitate upgrades. Government focus on NATS (National Apprentice training scheme) will benefit degree and diploma holders, making them industry ready.
Another, major development that will trigger the demand is the voluntary scrappage policy. This is good for the environment and for setting in motion a circular economy.”
Shailendra Shukla, Managing Director – India, Vehicle Group, Eaton said,“The Union Budget 2021 is optimistic and focused on socio-economic development. The increased capital outlay for infrastructure spend with commitment to building additional roads and national highways and improving urban infrastructure will spur demand in the medium to long-term for the sector and generate employment. Also, the Voluntary Scrappage policy for commercial vehicle and passenger vehicle is a good step which is likely to help our country’s sustainability goals and boost demand. It will definitely have a positive effect and will drive the commercial and automotive industries forward. Overall, this Budget will bring in a positive change for investors, businesses and general public.”