Indian companies are counting on yet another pandemic-era Budget to bolster economic growth and their own fortunes.
From approval of an input tax credit to a cut in indirect tax rates, from better policies to regulate the logistics industry to more funds to set up electric vehicle charging stations, India Inc has a long list of expectations from Finance Minister Nirmala Sitharaman, who will present the Union Budget on February 1.
Automobile dealers' body FADA has urged the government to reduce GST rates on two-wheelers to 18 per cent in order to generate demand in the segment.
The Federation of Automobile Dealers Association (FADA), which represents over 15,000 automobile dealers having 26,500 dealerships, noted that two-wheelers are not a luxury item and hence GST rates need to come down.
Hello readers and welcome to sector-wise coverage of Union Budget 2022. With Finance Minister Nirmala Sitharaman set to present the Modi government's eighth Budget on February 1, track this blog to know what the auto sector is expecting this year. Stay tuned for updates.