Budget 2024: Two-Wheeler Sales Stand To Benefit From Rural, Jobs Push

While Union Budget 2024 was bereft of any specific announcements for India's auto sector, a second-hand impact in the two-wheeler space is still expected.

Two-wheeler sales will stand to benefit from the three schemes under employment-linked incentives, such as one month’s wage for freshers, skilling and job creation, and support to employers for fresh employment, according to Crisil Ltd.

Two-wheeler sales also stand to benefit from the plan to enhance banking sector's reach in the north-east and the 'Purvodaya' scheme for the development of eastern states.

That will improve the flow of retail credit in those geographies, Crisil said.

Rural demand for two-wheelers and tractors can get a leg-up from the allocation of Rs 1.52 lakh crore for agriculture and allied activities.

Demand for tippers and construction equipment can surge due to the infra push for Bihar and Andhra Pradesh.