Although the latest budget from India’s newly elected government provides for huge investments in the country’s road infrastructure and rural areas, it allocates little new funding for auto makers or suppliers. However, substantial and wide-ranging cuts in taxes on passenger vehicles enacted last year to combat the market slowdown are continued in the new budget, with a couple of additional reductions. The excise duty on gasoline-powered vans and trucks has been cut from 20% to 8%. Most ...
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