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Infra spending will increase to help auto industry: Gadkari

  •   Thu, Sep 05 2019 03:13:45 PM

New Delhi, Sep 5 (IANS): The Central government is expected to take some policy decisions and come up with some major road infrastructure projects to arrest the sales downturn being faced by the Indian automobile industry, Union Minister Nitin Gadkari said on Thursday.

The Minister of Road Transport and Highways and Micro, Small and Medium Enterprises spoke at the annual convention of the Society of Indian Automobile Manufacturers (SIAM) here.

Gadkari said that in order to address the issues concerning the auto industry, the government is expected to award road projects worth Rs 5 lakh crore in the coming months. He said that these new construction projects would generate a demand for automobile construction equipment such as trucks.

The auto industry body has sought steps from the government, including a reduction in GST rates, to help them.

At present, the sector suffers from a sales downturn due to several factors like high GST rates, farm distress, stagnant wages and liquidity constraints.

Besides this, the inventory pile-up and stock management of unsold BS-IV vehicles have also added to the problems in the sector.
  

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Comment on this article

  • Mangalurian, Mangaluru

    Thu, Sep 05 2019

    Don't know how Infra spending will lift the auto industry.

    The problem currently is that not many consumers are coming forward to buy the vehicles.

    Unless the Government steps in and gives 30% rebate to the consumers on new vehicles, I don't think the industry will benefit.

    DisAgree [1] Agree [4] Reply Report Abuse


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Title: Infra spending will increase to help auto industry: Gadkari



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