Auto sector Budget 2020
The Narendra Modi government wants to hasten the adoption of green vehicles. Its think tank NITI Aayog has put forward a plan to shift to e-mobility for two-wheelers (below 150 cc) and three wheelers by 2025.With the government committed to bringing a revolution in the electric vehicles (EV) segment in the next few years, industry expectations from the Union Budget 2019-20 run high. Among the key demands are priority lending by public sector banks for purchase of EVs and a hike in government subsidy to push sales. The other proposal for the Budget is higher subsidy for people buying electric vehicles and incentives to corporates for bulk-buying of green vehicles.
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Auto Sector - Total results - 153
Feb 02, 2021
Union Budget 2021: Vehicle scrappage policy will boost automobile industry, curb pollution issuesThe auto sector is enthused by the government's move on long-awaited scrappage policy and focus on better road infrastructure
Feb 01, 2021
Union Budget 2021: Banking, health, infra sectors welcome announcements; hospitality, tourism regret lack of immediate supportHospitality and Tourism roughly account for 10 percent of India's GDP and employ nearly 9 percent of India's working population and yet, it failed to find space in the Union Budget, FHRAI vice-president Gurbaxish Singh Kohli said
Jan 31, 2021
Union Budget 2021: Auto sector expects relief in custom duties; EV units seek tax holidayThe auto industry expects relief from the Union Budget 2021 in multiple areas including direct and indirect taxation
Jan 28, 2021
Union Budget 2021: Policies, regulations must be extended to farm-based EVsIn order to develop the agriculture sector, significant policies and regulations must be extended to farm-based EVs in national as well as local contexts
Jan 27, 2021
Union Budget 2021: Auto industry optimistic about recovery from pandemic; expects cut in GST ratesThe removal of restrictions to avail the input tax credit of GST paid on automobiles for businesses would make vehicles more affordable when used for business purposes, besides fulfilling the basic intention of GST to eliminate cascading of taxes.
Jan 25, 2021
Union Budget 2021: Defer timelines for Phased Manufacturing Program for EVs, automakers need time to set up facilitiesIncentives on scrapping old vehicles and replacing them with revised emission norms compliant vehicles will catalyse automotive production and sales.
Jan 21, 2021
Union Budget 2021: Auto dealers' body demands depreciation benefits for individual taxpayersIn its Budget recommendations, the Federation of Automobile Dealers Associations also said auto dealers should be kept out of annual tax collected at source of 0.1%
May 29, 2020
Nissan settles dispute with Tamil Nadu over unpaid dues, damages; begins process to withdraw international arbitration: ReportThe dispute arose after Nissan said Tamil Nadu hadn’t paid certain incentives under a 2008 agreement to set up a car plant in the southern state.
May 27, 2020
COVID-19 Impact: Boeing expected to announce job cuts in US after aviation sector rocked by plunging travel demandIn April, Boeing chief executive Dave Calhoun said the company had “begun taking action to lower our number of employees by roughly 10 percent through a combination of voluntary layoffs, natural turnover and involuntary layoffs as necessary.”
May 27, 2020
Renault, Nissan rebuild alliance to ride out coronavirus storm; thousands of jobs to be at risk after restructuring plans: ReportWhen Renault SA, Nissan Motor Co and Mitsubishi Motors Corp announced the last strategy plan for their Alliance in September 2017, the goal was to become the world’s biggest automaker by 2022.