Today, Minister of Road Transport and Highways - Nitin Gadkari said - the automotive industry in India is worth 4 lakh Cr, should start inclining towards the cleaner and greener means of fuels.
However, in order to control pollution and oil imports of approximately 7 lakh Cr, it remains a concern for the state. He further added a clarification for the automotive sector - the government does not plan on banning petrol and diesel powered cars.
He is planning to create a list of recommendations to the Finance Ministry. Considering the slump in the sector and an expected increase in cost with implementation of BS-VI emission norms, I will give my recommendations to Finance Minister, said Gadkari addressing the audience at SIAM conference.
The minister further iterated - a proposition to make significant tax relaxations for hybrid vehicles is under discussion. Also, the government had already reduced GST on EMVs (new figure being - 5%).
This is definitely good news!
Keep reading for further updates.
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