NEW DELHI, Sept 12 — India’s road transport minister today said he will propose an additional 10 per cent tax on diesel vehicles and warned automakers of even higher levies...
NEW DELHI, Sept 12 — India’s road transport minister today said he will propose an additional 10 per cent tax on diesel vehicles and warned automakers of even higher levies to come to force them away from diesel-burners and cut fuel emissions and pollution.
“Say bye to diesel soon, otherwise we will increase so much tax that it will become difficult for you to sell these vehicles,” Gadkari told the conference. “We will need six-odd months to change our production planning processes but we can always vary and shift based on the demand,” he said. Shares of automakers Mahindra and Mahindra, Tata Motors and commercial vehicle maker, Ashok Leyland, dropped between 2.2 per cent and 2.5 per cent.Gadkari has also issued warnings at past SIAM conferences. In 2017, Gadkari told auto executives they should move towards electric vehicles , saying: “I am going to do this, whether you like it or not. And I am not going to ask you. I will bulldoze it.”
Veejay Ram Nakra, chief executive officer for the automotive division of Mahindra and Mahindra, told TV news channel ET Now that any change in duty structure “will certainly have an impact on volume of sales.”
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