Finance Minister Arun Jaitley is “seriously” considering the demand of automobile manufacturers which have raised concerns over rise in cess on luxury vehicles, Union Heavy Industries Minister Anant Geete said today.
“We have requested the finance minister (on the cess issue). Industry has given its memorandum and we have forwarded that to the finance minister and he is seriously considering that,” Geete told reporters here.
He was speaking on the sidelines of SIAM’s 57th annual convention.
Luxury vehicle manufacturers have hit out at the move to hike cess on large cars and sports utility vehicles (SUVs) to 25 per cent, saying it was against the spirit of liberal market dynamics and would affect future plans of expansion under Make in India initiative. Read More…
Latest posts by The Economic Times (see all)
- China To Speed Up Construction Of Power Project In Pok – October 17, 2017
- Watch: Jaiprakash Power’s mega stake sale attracts five bidders – October 17, 2017
- Abu Dhabi Investment Authority To Invest $1 Billion In India’s Infrastructure Fund – October 17, 2017