Rajiv Bajaj, managing director of Bajaj Auto, told in a special interview that if the GST rates fall from 28 per cent to 18 per cent, the price of the bike can be cheaper from 8000 to 10,000.
new Delhi. On Tuesday, Finance Minister Nirmala Sitharaman (Finance Minister of India) has indicated to give relief to companies making 2 wheelers. In the 41st meeting of the GST Council to be held on August 27, the Finance Minister can consider this demand of the auto industry. After this news, Rajiv Bajaj, managing director of Bajaj Auto, told CNBC-TV18 in a special interview that if the government reduces the GST (GST on two wheeler) on a two-wheeler, it will benefit the industry immensely. He said, in the atmosphere of this crisis, the government should give responsibility, so that the condition of companies can improve. Currently, GST is levied on the auto sector at the rate of 28 per cent currently.
Bike can be cheap up to Rs 8000-10000 Rajiv Bajaj Bajaj said that if the GST is reduced from 28 per cent to 18 per cent, then the price of the bike can be cheaper from 8000 to 10,000 rupees.
Rajiv Bajaj said that the industry has suffered a setback due to the decrease in export incentives. Bajaj alone has incurred a loss of Rs 300 crores due to reduction in incentives.
Bajaj said that the government needs to encourage consumers at a time when jobs are over and spending is low. He said that due to more regulations, prices for consumers have increased by 30-35 percent.
He said that the government should focus on export incentives for companies that have the criteria to become global players.
Hero MotoCorp, the country’s largest two-wheeler maker, last year urged the government to consider phase-wise reduction in GST rates.
