The upcoming Union Budget presents an opportunity to implement consumption-boosting measures to drive demand and support domestic economic growth amid global uncertainties, said Tata Motors Group CFO PB Balaji on Wednesday.
During an earnings call, Balaji noted that while the economy is not in a crisis, factors such as limited liquidity and subdued market conditions have contributed to sluggish demand following a strong festive season.
“If the Budget includes measures to boost consumption, it could help mitigate some of the external challenges currently affecting businesses,” he stated. He expressed optimism about a gradual improvement in demand, citing the traditionally strong fourth quarter and the positive impact of government infrastructure investments. 
Outlining his expectations for the Budget, Balaji highlighted that India’s investment-driven growth story is unfolding, and any initiatives that ease financial pressures and accelerate economic momentum would be welcomed.
“At a time when the global economic outlook remains uncertain and external shocks are possible, why not strengthen our domestic growth strategy to ensure continued economic progress?” he remarked.
Meanwhile, Tata Motors reported a 22% decline in consolidated net profit, falling to Rs 5,578 crore in the third quarter, compared to Rs 7,145 crore in the same period last year. The drop was attributed to weaker revenue from its passenger and commercial vehicle segments.
