Income tax rate cuts encourages buying of Small Cars: Nissan India President - GaadiKey

Income tax rate cuts encourages buying of Small Cars: Nissan India President

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Income tax rate cuts encourages buying of Small Cars: Nissan India President

Guillaume Sicard who is the President of Nissan India Operations reacted to Union Budget 2017,

The Union Budget 2017 agenda on Transform, Reform and Energise is a positive approach towards growth, with a clear focus on rural sector, increased spends on infrastructure development, and improve road construction for better last mile connectivity across India.

The Income tax rate cut from 10% to 5% for individual tax payers earning under 5 lacs per annum will create a positive sentiment among likely first time buyers for entry level and small cars. However, there is nothing substantial for R&D for automotive industry, EV and Hybrid vehicles, which is a dampener. We look forward to the implementation of GST for the automotive sector in the months to come to offer the much needed stimulus to the auto industry and encourage buyer sentiment and consumer confidence.

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Author: Chethan Thimmappa

I cover latest automobile news in India with special focus on cars and bikes. Please send me an email to reach@gaadikey.com for any enquiries. Follow me on twitter and facebook as well!

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