as declared in There was a lot Guessed from the Budget 2018, especially for the automotive industry.
generality of the engines which strengthluxury cars aren’t made in India & are imported & assembled here.
Also Read: Budget 2018: Expectations For The Auto Industry From Arun Jaitley On Electric & Luxury CarsRahil Ansari, Head, Audi India, said, “For the luxury auto sector, the Union Budget 2018-19 is disappointing & is versus the spirit of copartnership.
Ltd. said, “The Gov. announcements in Budget 2018 also ought accelerate rural request.
by nearly 50 per cent of 2-wheeler request coming from rural & semi-urban India, Budget 2018 ought have a positive influence on customer sentiments.”
Budget 2018: Expectations For The Auto Industry From Arun Jaitley On Electric & Luxury cars
As we get availiable to see what the Budget 2018 has to offer for vehicle buyers, the auto industry also is eagerly awaiting to learn what all of it going to be about.
Current GST tax averages at 48% for sedans & 50% for sport utility cars in the premium segment are very high.
If the importation duty is reduced by Budget 2018, then carmakers going to look to bring in Fresh models to India as also electric cars .
Also Read: No Respite For Auto Industry In Budget 2018Considering which electric mobility has taken a large step in the country, the community of industrialists of Electric cars (SMEV), has urged the Gov. to lower GST average to five% on all electric cars & EV subsystems in Budget 2018.
It has also proposed rebate on revenue Tax for consumers adopting Electric cars.
Union Budget 2018: Auto Industry Reactions & Quotes
according to When there were massive expectations from the budget, ranging from easiness in GST to relaxation for electric cars, there was no mention of the auto industry as such with Arun Jaitley in his whole speech.
However, the Fresh budget will surely influence the auto industry as some indirect factors will come into play.
We believe it is will influence the auto industry, the consumers & is too versus the spirit of ‘Make in India’.
The auto industry ended 2017 on a positive note, where it grew despite multiple policy disruptions in the Former year; however the customs duty hike is likely to reverse the development trend.
““The Union Budget 2018/19 demonstrates Gov.’s intent to boost investments in rural development, education, healthcare & social sectors & will lead to continued & inclusive economic development.
Budget 2018: No Respite In GST averages For The Auto Industry
There are no changes in the GST framework for the auto industry in the Budget 2018The Budget 2018 that has been closely followed with all the auto makers in the country & considering that this is the final budget the current Gov. was to pronounce ahead of the elections following year, the auto industry was hoping for a bunch of changes in the current GST framework.
too Read: Budget 2018: Expectations For The Auto IndustryLuxury vehicle makers were sokeen on seeing the current GST averages come drop.
Currently GST tax averages stand at 48 per cent for sedans & 50 % for sport utility cars in the premium segment that are high.
What was too Guessed was a reduction in the GST averages of electric cars & this was to incentivise the faster adoption of electric mobility in India.
The community of industrialists of Electric cars (SMEV) had urged a cut of five per cent of the GST average on all electric cars & EV subsystems for the Budget 2018.
collected by :Catlin Logan