Date:02/03/2005 URL: http://www.thehindubusinessline.com/2005/03/02/stories/2005030203310200.htm

Back Growth-oriented

Mr Mansoor Ahmed, Vice-President (Marketing), Volvo India

BUDGET 2005 is a growth-oriented one with an infrastructure focus and continues the reform process. We welcome various initiatives taken. First, is the reduction in Customs duty, bringing it closer to Asean levels.

Next, the thrust on improving infrastructure is evident in the form of higher allocation for the National Highway Development Project; creation of special purpose vehicle for financing through forex reserves; identification of metro cities for development.

The decision to allow FDI in the mining sector is also good and this should help stimulate modernisation.

These initiatives should stimulate the need for modern technology. This will also have a positive overall impact on the transport industry and construction equipment industry.