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Govt to not extend tax breaks to automakers beyond Dec 31

A tax break was first granted to auto makers in February to help revive sluggish car sales and was later extended in June

Reuters  |  New Delhi 

The government will not extend tax breaks to automakers beyond Dec. 31, a senior government official told Reuters, as the government looks to shore up its stretched finances before the end of the financial year despite the potential impact on car sales. The decision comes at a time when weak tax receipts in a sluggish economy are making it difficult for India to meet its ambitious fiscal deficit target of 4.1% of gross domestic product for the year to Mar. 31, 2015. Read our full coverage on Union Budget A tax break was first granted in February to revive sluggish car sales and ...

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