The schemes announced under the Prime Minister’s package incentivize job creation in the manufacturing sector, through wage benefits for new workforce entrants and employer support for additional employment.
The growth-focused Budget signals a clear intent to strengthen the economy, which will result in a stronger middle class, whose aspirations will be a key driver of growth for the automotive industry.
These initiatives will benefit auto component manufacturers and other MSMEs by providing them with an excellent opportunity to invest in the right technologies, state-of-the-art machinery, and equipment, enhance operational efficiency, and improve market positioning.
The story "Union Budget 2024: Future-oriented and focused on green mobility" has 688 words across 26 sentences, which will take approximately 3 - 6 minutes for the average person to read.
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