Tuesday, Mar 19 2024 | Time 15:04 Hrs(IST)
image
Business Economy


Industry Minister requests FM to think in terms of reducing GST rate for auto sector

New Delhi, Aug 22 (UNI) Union Minister for Heavy Industries, Anant Geete has requested the Union Finance Minister for reduction in GST (Goods and Services Tax) rates for automobile sector to promote its growth and maintain tempo of job growth.
In an ASSOCHAM event held here today, Mr Geete said, “With all the applications that I have received from automobile sector for reduction in GST rates, I have included my suggestions on the same and requested the Finance Minister to think in this direction.”
He also emphasised upon the need to make people at the helm in government departments accountable just like in case of private sector whereby the action is taken against the top authority for any violation or accident.
He also highlighted how countries like China, Japan and Korea are ahead of India in terms of manufacturing sector, so much so that government public sector enterprises prefer buying Chinese product owing to low costs.
“It pains me to see that a Maharatna company like BHEL (Bharat Heavy Electricals Ltd.) purchases ‘Made in China’ product as it is cheaper in terms of cost,” said Mr Geete.
Talking about the Capital Goods Policy floated by the Government, he said “It is an unprecedented step and we intend to spend Rs 3,000 crore in this regard and under this policy we want to promote small and medium enterprises by supporting them to sustain in this globally competitive world through technology adoption and strengthening their research and development.”
UNI ADP SHK 1947
More News

Zoomcar partners with EaseMyTrip to provide self-drive cars

19 Mar 2024 | 2:01 PM

New Delhi, Mar 19 (UNI) Car-sharing platform Zoomcar on Tuesday announced partnership with EaseMyTrip to provide pre-booked and on-demand self-drive cars in India.

see more..
Rupee eases 1 paisa against USD

Rupee eases 1 paisa against USD

19 Mar 2024 | 12:15 PM

Mumbai, Mar 19 (UNI) The rupee on Tuesday fell marginally by one paisa to 82.94 against the USD on rising demand for the US dollar by bankers and importers, dealers at the Foreign Exchange said.

see more..
Sensex down over 500 points

Sensex down over 500 points

19 Mar 2024 | 12:15 PM

Mumbai, Mar 19 (UNI) The BSE Sensex on Tuesday tumbled down 538 points to 72,208 in the opening session as selling was seen across the board.

see more..

ARS Group unveils first of its kind TMT bar for retail segment

19 Mar 2024 | 10:43 AM

(RPTING WITH CORRECT DATE)
Chennai, Mar 19 (UNI) ARS Group, India's leading TMT Bar manufacturers headquartered in Chennai, on Tuesday launched their new TMT bar for the retail segment -- ARS CRS 550D.

see more..

Ashok Leyland, Minus Zero announce pact to revolutionize Autonomous Trucking

19 Mar 2024 | 10:41 AM

Chennai, Mar 19 (UNI) Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer on Tuesday announced a strategic alliance with Minus Zero, India's leading autonomous driving technology startup.

see more..
image