The federal government and captains of India’s vehicle (auto) business have been at variance at an business occasion, additional widening the hole in consensus on discount of tax on passenger vehicles and two-wheelers.
With Income Secretary Tarun Bajaj within the viewers, two auto business veterans – R C Bhargava, chairman of India’s largest carmaker Maruti Suzuki, and Venu Srinivasan, chairman of TVS Motor Firm – questioned the federal government’s intent to assist the sector.
Calling for a discount in taxes, they puzzled if the contribution of the auto business in the direction of India’s development was being recognised by policymakers and have been perturbed at vehicles being thought-about a luxurious solely the wealthy can afford.
“There have been a variety of statements made on the significance of the auto business. However when it comes to concrete motion, which might reverse the decline in pattern, I have not seen any on the bottom. I’m afraid phrases do not get us very a lot when it comes to additional gross sales,” mentioned Bhargava.
It was seemingly directed at Bajaj, who, as head of the Division of