Will these decisions of the Modi government can end the slowdown in the auto sector?
The biggest challenge facing PMÂ Narendra Modi-led Modi 2.0 in India is to stabilize the ongoing upsurge in the auto sector. Union Finance Minister Nirmala Sitaraman on Friday announced a series of major decisions that are expected to improve the auto industry in the near times. In fact, the auto sector has been witnessing a steady decline since the beginning of this year. Now the Narendra Modi government has taken five major steps simultaneously. So let's take a look at these 5 big decisions that can make Sanjeevani work for Auto Industry. Let us know the full details
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No government department can buy new vehicles at the present time. The ban is believed to be lifted by the Modi government. This will increase the sales of vehicles which will have a direct impact on the health of the auto sector. The same Nirmala Sitharaman said that the government will increase the 15 percent dispersion on all vehicles to 30 percent. In simple terms, suppose you bought a car priced at Rs 100, a year later, where the price dropped by 15%, it will now fall by 30 percent. This will change the customers' old trends in a shorter time than before, which will significantly increase sales.
For your information, your registration will now be valid for the entire period if you buy any BS-4 engine vehicle by March 31, 2020. The same was believed to be illegal to drive BS-4 engine vehicles after 2020. Only BS-6 engined vehicles will be sold from April 1, 2020. The Modi government will roll back proposals to increase registration fees. This will provide relief to customers who buy vehicles as they will now have to pay less for registration. These include reducing GST on electric vehicles by 12 percent to 5%.