The auto sector is enthused by the government's move on long-awaited scrappage policy and focus on better road infrastructure
Union Budget 2021: Banking, health, infra sectors welcome announcements; hospitality, tourism regret lack of immediate support
Hospitality 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
The auto industry expects relief from the Union Budget 2021 in multiple areas including direct and indirect taxation
In order to develop the agriculture sector, significant policies and regulations must be extended to farm-based EVs in national as well as local contexts
The 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.
Union Budget 2021: Defer timelines for Phased Manufacturing Program for EVs, automakers need time to set up facilities
Incentives on scrapping old vehicles and replacing them with revised emission norms compliant vehicles will catalyse automotive production and sales.
In 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%