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Impact of Lower Excise Duty on Industry |
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| 19-3-2015 | |||||||||||||||||||||||||||||||||||||||||||||||||
The production growth rate of Automobile Industry during the period April 2014 to February 2015 compared to the same period of last year is as under:
The Government is taking steps to improve growth through policies like the JNNURM and support for improving exports. The vehicles manufacturers are launching newer and improved models to boost demand. Excise duty was reduced w.e.f. February, 2014 to December, 2014 and thereafter the earlier higher duty level has been restored. Almost all the sectors had shown improvement in production during the lower excise duty phase and the previous negative trend was reversed. Comparative data of production during the period January-December, 2013 and January-December, 2014 is as under:
This information was given by the Minister of State in the Ministry of Heavy Industries and Public Enterprises Shri G.M. Siddeshwara in reply to a written question in the Rajya Sabha today. |
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