Union Minister Nitin Gadkari on Thursday assured the crisis-hit automobile industry of all possible support from the government, including taking up the demand of GST reduction with Finance Minister Nirmala Sitharaman.<\/p>\n\n\n\n
Reiterating that the government would help the industry, the Road Transport and Highways Minister also said his ministry would give out 68 road projects worth up to Rs 5 lakh crore in the next three months to help generate demand for commercial vehicles.<\/p>\n\n\n\n
With the impending price increase of vehicles and the upcoming of BS-VI norms deadline, \u201cit is your demand that there should be reduction in tax of petrol and diesel vehicles. Your suggestions are good. I will take your message to the Finance Minister,\u201d Gadkari said at annual SIAM convention here.<\/p>\n\n\n\n
The minister said, like the way GST on electric vehicles has been reduced to 5 per cent from 12 per cent, he would propose to the Finance Ministry to extend the same benefit to hybrids vehicles.\u201cWe have reduced GST in electric vehicles. Now, I am trying that GST on hybrid vehicles is also reduced. I am following up regarding this with the Finance Minister,\u201d Gadkari said.<\/p>\n\n\n\n
Gadkari, who had in 2017 stated the auto industry would be \u201cbulldozed\u201d if they didn\u2019t push for electric vehicles, also struck a reconciliatory note saying that the government has no intention to ban petrol and diesel vehicles.<\/p>\n\n\n\n
\u201cThere have been talks that government is planning to ban petrol and diesel vehicles. I want to make it clear that the government has no such plan. We are not going to do anything like that,\u201d he said.He also said he would take up a discussion with the Finance Minister for extending possible export incentives on automobile makers, as has been done for the sugar industry.<\/p>\n\n\n\n
CII President-Designate, MD and CEO of Kotak Mahindra Bank, Uday Kotak also urged automobile manufacturers to give emphasis on exports in order to create additional avenue to overcome the slowdown in the domestic market while stressing that a weaker rupee will make it even more favourable.<\/p>\n\n\n\n
Speaking at the event earlier, SIAM President Rajan Wadhera had asked the government to consider reducing GST on automobiles to help it overcome the prolonged slowdown.<\/p>\n","protected":false},"excerpt":{"rendered":"
Union Minister Nitin Gadkari on Thursday assured the crisis-hit automobile industry of all possible support from the government, including taking up the demand of GST reduction with Finance Minister Nirmala Sitharaman. Reiterating that the government would help the industry, the Road Transport and Highways Minister also said his ministry would give out 68 road projects […]<\/p>\n","protected":false},"author":1,"featured_media":69856,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-69855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/69855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=69855"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/69855\/revisions"}],"predecessor-version":[{"id":69857,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/69855\/revisions\/69857"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/69856"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=69855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=69855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=69855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}