Cars in India | Autoportal.com
Select City

General Motors hopes Narendra Modi-led BJP government continues with excise duty cut

Snapshot: The excise duty cut was announced by the out-going UPA II government in the Interim Budget 2014-15.

U.S-based automaker General Motors has made its opinion public by stating that it hopes the new government continues with the excise duty cut that was announced in the Interim Budget 2014-15 by the out-going UPA II government. Narendra Modi-led BJP government is slated to take charge this week, following a resounding victory in the country on 16th May in general elections. The new government is expected to announce the Budget 2014-15 within a couple of months. The Interim Budget was announced in February 2014 by the UPA II government. 

Mr P Balendran, vice president of General Motors India said, “The automobile industry in the country is in bad shape registering a de-growth in the last four months of 2014. The new government in its budget should continue with the excise duty cut as announced in the last budget.” Balendran said that the buyer sentiment was poor due to high interest rates and inflationary pressures. "It will take at least six to nine months for the automobile industry to be back on tracks," he added. 

The industry's growth during 2014 is expected to be in single digit, 4-5 per cent, he said. "We hope to grow at par with the industry." Earlier, General Motors India had announced that the company would start exports of its products from later part of this year. At the moment, the company exports its products to Nepal and Bangladesh.  

Related car news

  • M&M mulls investment of $684 million in new plant in India 23-05-2014 Gauri Lokhre M&M mulls investment of $684 million in new plant in India
  • Mahindra Scorpio or BMW 7-Series: What will Narendra Modi’s official car be? 22-05-2014 Gauri Lokhre Mahindra Scorpio or BMW 7-Series: What will Narendra Modi...
  • General Motors slashes car prices by up to Rs 49,000 21-02-2014 Gauri Lokhre General Motors slashes car prices by up to Rs 49,000
  • Why PM Narendra Modi uses BMW 7-Series as his official vehicle? 06-12-2016 Arjit Garg Why PM Narendra Modi uses BMW 7-Series as his official ve...
  • GM boss Mary Barra inducted in Trump's Economic Panel 04-12-2016 Autoportal Team GM boss Mary Barra inducted in Trump's Economic Panel
  • All you need to know about the New Motor Vehicle Bill 04-08-2016 Arjit Garg All you need to know about the New Motor Vehicle Bill


Helpline