Automobiles The FY17 Union Budget was a mixed bag for automobile manufacturers. The higher allocation towards rural and agriculture spend, including highest ever allocation of Rs 38,500 core towards MGNREGA, would definitely bring some much needed good news for rural focussed two-wheeler and auto makers. Measures like higher investments towards irrigation and crop insurance scheme for farmers would help revive rural demand directly benefiting the two-wheeler segment. Decisions like expenditure of Rs 19,000 crore on building roads in the rural corners of the country as part of the Pradhan Mantri Grameek Sadak Yojana in FY17 as well as creation of R15,000 crore worth of interest subvention...
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