No special measures for the ailing auto industry
The industry, which contributes 7% to the GDP, has seen falling sales for more than a year.
The industry, which contributes 7% to the GDP, has seen falling sales for more than a year.
The markets plunged into the red in response to measures announced by finance minister Nirmala Sitharaman on Budget day. Bank stocks suffered the most, with the BSE Bankex losing over 1,000 points.
Nirmala Sitharaman’s second Budget attempts to do too many things to boost consumption and growth but ends up falling short of expectations.
According to the international brokerage, the market is looking for some relief in personal income taxes and taxes for companies/investors.
We are looking at increasing our India portfolio to four products in two years, says its India head Rajeev Chaba.
The industry expects the Budget to address factors like weak market sentiment, GST rates, and charging infrastructure for electric vehicles.