It has been almost 3 years’ time, auto industry is slipping continuously, UPA led government tried some ways of reviving the industry but was fail to bring up whole industry. The government reduced excise duty on all the car models, provided new sources investment but that was not enough to push up bearish trend of auto industry.
Now, what new government can do to change the phenomenon? The industry expert expect reforms such as introduction of GST, New policies to boost up the infrastructure, continuation of current level of excise duty, proper labour policies that direct the often unrest in labour unions in auto industry and most importantly financing option to the buyer at feasible interest payments.
Mr. R C Bhargava said to ET that, “I think at the moment the industry is in such shape that removing that concession (excise duty cut) would be very negative, so I hope that will continue.” He added expecting Modi to deliver his word that “Modi now has the mandate to implement whatever he has been promising.” And “Creation of jobs, moving manufacturing to a much faster rate of growth, getting good governance in the country, whatever is required to do these would be areas that form priority of the government.”
While Mr. P Balendran express hope of retaining current level of excise duty and hope for maintaining current level of interest rates or reduce it further.
Mr. Sunil Kant Munjal Joint Managing Director Hero MotoCorp said, “We need streamlined policies that bolster infrastructure development in India, acting as an engine of growth must be the priority of the new government, We expect to witness a more rapid double digit growth in the two-wheeler segment with the new policies and improved buying sentiments of our end customers.”
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