Maruti Suzuki chief RC Bhargava and TVS Motor chief Venu Srinivasan have accused the government officials of mere word of mouth deposit and spending. He has said that the growth of the auto industry has been declining for the last few years, but the government officials are giving statements only to improve the situation. They are not doing anything to improve the condition of the industry.
Bhargava said, this industry will not grow until cars are cheap
Addressing the 61st Annual Convention of the Society of Indian Automobile Manufacturers (SIAM), Bhargava said that the automobile sector in the country is at a critical stage with the decline in the last few years. Until the question of affordable cars for the customer is not resolved, neither it will pick up pace with conventional engine vehicles nor CNG, nor will the industry move forward with the help of bio fuel or electric vehicles. Cars are still considered a luxury item in India, which only the rich can afford.
Big relief to former Yes Bank promoter Rana Kapoor, SEBI asked to defrost the bank, demat account and mutual funds
‘Two wheelers are being taxed at 28% higher’
TVS Motor Company chairman and managing director Venu Srinivasan also said that two-wheelers, which are the basic transportation mode for commuting in the country, are also being levied 28 per cent GST. This is the highest rate of tax and is almost equal to the tax levied on luxury goods.
Bhargava said, we are passing through a situation where the industry has been declining for a long time. And I just heard the words of Amitabh Kant (CEO of NITI Aayog). People holding important positions in the government have given statements about the importance of the automobile industry. But talking about concrete steps, which will stop the trend of decline, I have not seen anything happening on the ground.