Will request FM to cut GST rates on automobiles temporarily: Nitin Gadkari : 05-09-2019

Minister for Road Transport and Highways Nitin Gadkari said he would urge Finance Minister Nirmala Sitharam to temporarily reduce GST rates on automobile to spur demand in the domestic market which is in the midst of a prolonged slowdown. 

The Minister also said that he would request the government to consider some incentives on hybrid vehicles. 

Gadkari, who was speaking at the 59th SIAM Annual Convention, said that the government is equally concerned about the slowdown in the industry. “We know what you are worrying about now…The government is also concerned. The slowdown has relation to employment potential as well as growth of the country…The FM is trying to find solutions”, said Gadkari. 

Automobile sales fell by 20% last month, Society of Indian Automobile Manufacturers (SIAM) Rajan Wadhera informed. 

Gadkari said that there is a fear among consumers that there can be a ban petrol and diesel vehicles but the government will not take any such action. “There is no plan to ban petrol and diesel vehicles”, he informed. 

Gadkari said the government wants to cut down on crude imports, pollution and improve road safety and is looking at measures to do so. 

Source : PTI

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