Bosch Car Service: Your Trusted One-stop Destination for Car...
- Mar 8, 2024
- Views : 49351
The Union Finance Minister P. Chidambaram announced reduction in excise duty auto sector, bringing some respite for the beleaguered auto sector.
Reacting to the interim budget industry body CII said "We welcome the budget presented in the house today. He has made some positive announcement for the infrastructure, auto sector which will definitely augur positive for the economy. The steps taken to address inflation and current account deficit is also a positive." CII spokesperson said.
The finance minister reduced the central excise on small cars, scooters/two-wheelers from 12 to 8 percent. He also reduced the central excise from 30 percent to 24 percent on SUVs, and medium segment cars sedans from 27-24 percent to 24-20 percent, respectively.
Ex- SIAM President and President Mahindra Auto & Farm Sector, Pawan Goenka welcoming the budget said : "It was a very nice budget, he did not fall for populist measure despite its being electioneering months. He has announced cut in excise duty of cars, SUVs, farm equipment and bikes which will definitely help in revival of demand."
"However, I did not hear anything for the commercial vehicle which is badly hurt. I hope that there is something to revive this sector." Goenka added.
Bosch Car Service: Your Trusted One-stop Destination for Car...
Maruti Suzuki Rock N Road: Redefining the SUV Experience
Ford Endeavour And Ranger India Launch Possible WITHOUT Expensive...
Here’s How Different The Hyundai Creta N-Line Looks From The...
Tata Outperforms Hyundai To Take Second Spot February 2024 Sales
10 Features The Mahindra Thar 5-door Is Expected To Get Over The...
10 Features The New Mahindra Thar 5-door Is Expected To Get Over The...
New Ford Endeavour (Everest) Spied On Indian Roads: Top 5 Things You...
2024 Tata Curvv Spotted, Sneak Peek At Its Interior Reveals This...
India's largest automotive community