Cummins urges continued infrastructure spending and GST subsidies in Budget 2024

Ashwath Ram, the Managing Director of Cummins, shared his expectations for Nirmala Sitharaman’s interim Budget 2024 in an interview with CNBC-TV18.

Ram emphasised the critical role of infrastructure development in India's journey towards achieving its economic goals. He highlighted the need for significant investments in building roads, rail metro, and modernising the power grid, along with advancements in new energy sources.

Ram pointed out that these areas present opportunities for companies like Cummins to benefit, and he urged the government to continue prioritizing infrastructure spending.

While acknowledging the gradual increase in private capital expenditure, Ram stressed the importance of uninterrupted government investment in infrastructure projects.

Regarding the FAME (Faster Adoption and Manufacture of Electric Vehicles) scheme, Ram expressed expectations for its continuation to incentivise the adoption of new energy technologies like electrification of buses and hydrogen fuel cells in mobility.

He anticipated that the widespread adoption of such products would take time, and therefore, urged the government to sustain incentives to encourage investments and infrastructure development within the country.