Govt. must unveil stimulus to spur demand: MPs’ panel

Details:
  • The package should focused on generating demand, stressing that its responses so far have focused only on the supply side.
  • The panel has also asked for GST rates levied on automobiles to be rationalised, in order to spur demand for new vehicles and help the sector overcome the present slump.
  • The cost of BS-VI vehicles was expected to be 10-15% higher due to upgraded technology.
  • The high cost of new upgraded vehicles could be mitigated by reducing the GST rate to 18% from 28%.
Posted by Jawwad Kazi on 16th Dec 2020
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