Glory days for the Automobile Sector are back again

Heavy Industries Minister Praful Patel was elated at the announcement of this year’s interim budget. He said that this would not only result in a boost for the sagging industry, but will also create more jobs and employment in the manufacturing sector. Commerce Minister Anand Sharma summed up the interim budget and gave his views too, on the same. "The interim budget has very firmly underscored government's priority, attention and commitment to promote manufacturing and job creation. I hope that automobile and capital goods (growth) will pick up with the announcements made in the Budget.” During times when the Automobile sector was going through a downturn, Patel himself had written several letters to the Finance Minister, asking for a cut in the excise duty for the vehicles. Here is how the consumers would benefit from the interim budget. Excise duty for small cars, scooters, motorcycles and commercial vehicles will come down to 8 per cent from 12 per cent earlier. SUVs will attract excise duty of 24 per cent as against 30 per cent earlier. Excise duty on large cars will now be 24 per cent compared with 27 per cent earlier, while the duty on mid-sized cars will go down to 20 per cent from 24 per cent previously.

 

All the above mentioned change, will come into effect from June, 2014. It was after a gap of 11 years, that the Automobile Industry witnessed a slump, due to irregular policies. However, with the interim budget already announced, things shall fall into place for the Automobile Industry very soon. On the flipside, Anand Sharma did not witness any constitutional links, between the budget and the upcoming elections. The sole aim was to provide the Automobile Industry with all that was missing; thereby instilling confidence within. Now that the things are falling into place for the Automobile Industry, NCP Leader Praful Patel will have a major role to play, as far as its progress is concerned. Patel largely will be responsible for overlooking the linear business policies and conditions that will help the Industry to grow by leaps and bounds, in the coming years.

 

Praful Patel’s contributions have been remarkable, even when the Industry was going through a bad patch. He ensured that this year’s Auto Expo, New Delhi had a large audience, unlike the last. For this, he alongside Anand Sharma had shouldered the responsibility of seeking permission from the concerned authority, to conduct the program in Pragati Maidan to remove constraints of space. It finally turned out to be a spectacular show, garnering magnificent response from the audience present there. The leading car manufacturers of the world, also went on to compare the show, to the likes of the car shows held in Geneva, Tokyo and Frankfurt. The reins of the industry, is still in the hands of Mr. Praful Patel and without a second thought, the journey for the Automobile Industry is only upwards from here on. 

About Author : Heavy Industries Minister Praful Patel is the reason behind the change, that the Automobile Industry has witnessed after the interim budget. Even during the lull, Patel tried out measures such as promoting diesel and introducing electric vehicles, for its revival. For more information on Praful Patel biography and his achievements as a minister, follow him on his social networking sites including Facebook, google+ and his YouTube channel.

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