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

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

A man uses a mobile phone astride his motorcycle. (Photo: Unsplash)

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.

Also Read: Budget 2024: Bonanza For Bihar After Special Category Status Is Denied

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.

Also Read: Budget 2024: One Crore Youth Will Directly Benefit From Our Internship Scheme, Says Finance Minister

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WRITTEN BY
Tushar Deep Singh
Tushar Deep Singh is a Mumbai-based business journalist reporting on India'... more
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