While the Union Budget 2014 is slated to be presented today let’s hear out FM’s Budget Speech Live to know what is in store for Auto Sector. In the Interim Budget presented by then UPA government in February, excise duty on small cars, scooters, motorcycles and commercial vehicles were reduced to 8 per cent from 12 per cent. The duty was reduced to 24 per cent from 30 per cent in the case of SUVs, 20 per cent for mid-sized car from 24 per cent and 24 per cent for large cars from 27 per cent. This reduction was given to the automobile sector with an aim to give some impetus to declining sales, and was only applicable till June 30.
Watch the live streaming of the FM’s budget speech to know if the prices of cars are going down post Budget 2014, if the interim relief of Excise duty is extended or not? The Modi government should reduce the interest rates and the fuel prices should be controlled. This will be a boon for both customers and the auto-industry which can see improved sales or else the customers will have to shell out more to buy their favorite dream car.
Watch the Live streaming of Union Budget 2014: Finance minister’s Budget Speech will be Live here at 11am