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Read more about Budget 2021: Auto industry demands rationalisation of tax, scrappage policy on Business Standard. The auto industry hopes it will assist them in recovering from the pandemic-induced economic shock
Union Budget 2021: Auto industry demands rationalisation of tax, scrappage policy ANI | Updated: Jan 26, 2021 06:39 IST
By Shailesh Yadav
New Delhi [India], January 26 (ANI): As Finance Minister Nirmala Sitharaman is getting ready to present her third Union Budget on February 1, the auto industry hopes it will assist them in recovering from the pandemic-induced economic shock.
The Indian auto industry which has just started to witnessing some recovery after months of low demand, first due to the Covid-19 lockdowns and then because of the pandemic-triggered economic crisis, wants rationalisation of tax structure and scrappage policy.
Talking to ANI, Satyakam Arya, MD and CEO, Daimler India, said the tax on the automobile sector is very high, and there is a need to bring it down.