Union Industries Minister Prakash Javadekar on Friday assured that he will discuss with Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman in this context.
The central government is considering cutting the GST rate on two and four wheeler vehicles. If this happens then cars and bikes will become cheaper in the country. The automobile industry has been demanding cuts in GST on cars and bikes for a long time. Union Industries Minister Prakash Javadekar (Prakash Javadekar) on Friday assured that he would discuss Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman in this context. Earlier in the recent GST Council meeting, Finance Minister Nirmala Sitharaman had also indicated the reduction in GST rates on vehicles.
Prakash Javadekar said that the Finance Ministry is working on this proposal. He said that keeping in view the need of the hour, two wheeler, three wheeler and a separate category of public transport can be created. After this, GST rates can be reduced by creating different categories of cars and different categories of other vehicles. He said that he does not know much about this subject yet. Javadekar said, I hope you guys will get some good news soon. It is expected that the government may cut GST rates from 5 to 10%.
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Auto Scrappage Policy will be implemented soon
Prakash Javadekar also informed that the proposal of auto scrappage policy has been prepared and all the concerned parties have given their opinion on it. He said that this policy could be announced soon. Said that the automobile industry is very important for the economy and we want to support the industry by giving incentives to increase competition. He said, the automobile industry feels that the government will benefit from reducing GST rates on vehicles. Prakash Javadekar said, the industry is not demanding permanent cuts, but is asking to do so for a fixed period. In such a situation, I will certainly discuss this with the Prime Minister and the Finance Minister with other concerned people. I hope there will be progress in this direction.
