Ashok Leyland’s Dheeraj Hinduja hails Modi 3.0 Budget; calls it ‘growth oriented’
Hinduja says India remains the best destination for investment globally; backs Centre’s Employee Linked Incentive scheme which aims at creating more jobs
Dheeraj Hinduja, the chairperson of Ashok Leyland, commended Finance Minister Nirmala Sitharaman’s budget for the fiscal year 2024-2025, lauding it as a catalyst for economic growth. Speaking to The Federal on the sidelines of 'Investopia Global Talks' event in Chennai, Hinduja expressed his optimism about India's economic trajectory, citing the government's sustained focus on capital expenditure.
"I think the budget is very much growth-oriented, and the government has kept the capital expenditure going. We remain very optimistic, and India remains the best destination for investment globally," he stated.
Praise for employee-linked incentive scheme
Hinduja also welcomed the government’s Employee Linked Incentive scheme, designed to bolster employment opportunities by supporting employees and employers based on EPFO (Employees’ Provident Fund Organisation) enrolment. He praised the initiative as a step in the right direction to address India’s significant job creation needs.
“India has a significant number of graduates entering the job market each year, with a demand for 10 crore jobs annually. I believe that the initiatives the government has taken is in the right direction and would eventually lead there, particularly the internships the budget had suggested,” he added.
‘More LCVs in pipeline’
Commenting on Ashok Leyland’s strategic shift towards light commercial vehicles, Hinduja revealed, "We're introducing a light vehicle every alternate month. There’s a lot you would see from Ashok Leyland in the coming months."
He also mentioned the company's market performance, highlighting a growth rate between 8-10 per cent this year as he spoke of the outlook for the current fiscal year.
