As the most hurtful retardation in the Indian automobile sector, Finance Minister Nirmala Sitharaman has ensured that a decision on GST rate cut for vehicles will be taken soon. Suffering its most critical slump in sales since 1997-98, the automobile sector has been clamouring for measures to strengthen demand.
Sitharaman was speaking the media in Chennai on NDA government performing 100 days of its second term. The Finance Minister also guaranteed that the government is informed of the requirement to answer to the difficulties in the auto sector.
With respect to the auto manufacturers’ demand to remove automobiles from the highest bracket under the Goods and Services Tax, FM Sitharaman said that the concern will be considered up by the GST Council in its meeting on September 20.