For Quick Alerts
For Daily Alerts

Nirmala Sitharaman Announces Measures to Boost Automotive Sector


The Finance Minister, Nirmala Sitharaman announced a slew of reforms for the Auto Industry which is currently facing the worst slowdown for the first time in a decade.

Nirmala Sitharaman Announces Measures to Boost Automotive Sector

In her address to the media, the Finance Minister announced the following relief to the Automobile sector:

  • Revision of the one-time registration fee is being deferred until June 2020.
  • BS-IV vehicles which will be purchased till March 2020 will remain operational for the entire period of registration. She noted that "It was a big issue, It's not as if from 2020, they're off the road. They are allowed till their registration is one."
  • Both electric vehicles and internal combustion vehicles will continue to be registered. The government's focus will be on setting up of infrastructure for the development of ancillaries or components including batteries for export.
  • All the vehicles acquired from now until March 31, 2020, will get an additional benefit of 15 per cent depreciation, taking up the total depreciation to 30 per cent.
  • The Government of India will lift the ban on the purchase of new vehicles by the government department to boost the demand and these vehicles should be replacing the older vehicles.
  • A new policy related to scrappage will be introduced soon.

Read more about: automobile auto industry
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more