![A CAPEX INTENSIVE BUDGET](https://cdn.magzter.com/Commercial Vehicle/1677093073/articles/ZOogvVcSZ1677151145068/A-CAPEX-INTENSIVE-BUDGET.jpg)
The Union Budget 2023 turned out to be CapEx intensive despite being a pre-election year. At 3.3 per cent of the GDP, the capital investment outlay was raised for the third year in a row to rupees 10 lakh crore. The increase is pegged at 33 per cent. Finance Minister, Nirmala Sitharaman, in her fifth budget presented to the parliament, pointed at the 3x raise over 2019-20. Calling it the first budget in Amrit Kaal” she set out to reflect an empowered and inclusive economy. Building on the foundation laid last year with Union Budget 2022-23), she hailed the seven per cent growth rate as the highest among world economies. Admitting to the Covid-19 and war-induced slowdown, she put across her firm belief that the nation was on the right track. She spoke highly of India’s global profile due to several accomplishments under the BJPled government and weaved the budget aimed at building a world class infrastructure with a focus on green mobility and integrated transport.
Setting out to achieve climaterelated goals the National Hydrogen Mission plan has the country aiming for a production of Five MMTA of hydrogen and bolster its energy independence agenda. The action plan for establishing a Green Hydrogen ecosystem and catalysing a systemic response to the opportunities and challenges of this sunrise sector is in line to achieve net zero emissions by 2070. Calling the budget people-centric’, aimed at offering a better quality of life, and one offering a conducive environment for business, it circled back to progress on Sustainable Development Goals SDGs).
This story is from the February 2023 edition of Commercial Vehicle.
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This story is from the February 2023 edition of Commercial Vehicle.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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SATISH SHARMA, INDUSTRY VETERAN, ANNOUNCES EARLY RETIREMENT FROM APOLLO TYRES LTD
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NAVIGATING THE DRIVER DROUGHT - HOW SMART ANALYTICS STEER DRIVER RETENTION IN 2024
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ALLISON TRANSMISSION WIDE-BODY DUMP SERIES
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BUILDING THE ECOSYSTEM FOR SOPHISTICATED MACHINES
IN AN UPFRONT SESSION, ANTONIO LEITAO, VP OFF-HIGHWAY, ENGINE BUSINESS & EUROPE ABO LEADER AT CUMMINS BELGIUM SPEAKS TO ASHISH BHATIA ON BACKING BOTH LOCAL AND GLOBAL CUSTOMERS FROM INDIA.
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CUMMINS' OFF-HIGHWAY PLAY
CUMMINS INC. IS PURSUING HIGHER EFFICIENCIES FOR ITS CEV CUSTOMERS FROM INDIA. ASHISH BHATIA HIGHLIGHTS THE ADVANCEMENT AND CUSTOMER VALUE PROPOSITIONS.
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THE IMPACT LINEUP
AT THE ANNUAL CONFERENCE, DAIMLER INDIA COMMERCIAL VEHICLES INTRODUCED THE MY24 BHARATBENZ PORTFOLIO AGAINST THE BACKDROP OF A ROBUST PERFORMANCE, WRITES RICHA TYAGI.
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AFFORDABLE MECHANISATION
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UNO MINDA AFTERMARKET PROJECTIONS
UNO MINDA IS READY TO SEIZE THE OPPORTUNITY, CREATING A GREATER PULL FOR ITS PRODUCT PORTFOLIO. IN AN UPFRONT SESSION RAKESH KHER, CHIEF EXECUTIVE OFFICER, THE AFTERMARKET DIVISION AT THE COMPANY SPOKE TO ASHISH BHATIA ON THE CONFIDENT RUN.
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ROBUST TRAILER UNDERPINNINGS
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ON-HIGHWAY AND OFF-HIGHWAY STRATEGIES
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