Auto Sector Crisis: Government In Consultation With States On GST, Says Nitin Gadkari
Union Minister Nitin Gadkari on Wednesday said the Centre is in consultation with the state governments and will take a call on whether or not to reduce the GST rate on automobiles. However, the final decision to reduce the rate can only be taken by the GST Council.
According to the Minister of Road Transport & Highways and Micro, Small and Medium Enterprises, the Union Ministry of Finance has been in consultations with various state governments and could bring in a rate reduction via the GST Council.
"I am confident that the Finance Ministry with discussion with the state governments and if it is possible, they are very positive, they will take a decision (sic)," the minister said at the launch event of the BSVI variant of Honda Motorcycle and Scooter India's Activa.
Lately, the country's automobile industry, which has been heavily dented by the consumption slowdown, has been demanding a reduction in GST from 28 to 18 per cent.
On automobile scrapping, the minister said that the government will support the industry and non-industry players to set up scrap yards and bring in new technologies in this arena.
In addition, he told the gathering at the launch event that the Petroleum Ministry is ready to give its consent for setting up of Ethanol fuel pumps in the country.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
