Fuel policy promoted diesel: Bhargava

Says the automobile industry wants an environment of stability and certainty

A day after the Supreme Court temporarily banned registration of diesel vehicles above 2,000-cc engine capacity in NCR, R C Bhargava, chairman of country's largest car maker Maruti Suzuki, said the automobile industry wanted an environment of stability and certainty. Stating that it was the government's fuel policy of pricing diesel at a steep discount to petrol which made diesel a popular fuel, Bhargava said the industry cannot be held responsible for the same.

"When Maruti started operations using diesel as a fuel was not even permitted. Car makers have only reacted to the market conditions created by the fuel policy over the years."

Raising concerns for shareholders and investors of the impacted companies such as Mahindra & Mahindra, he said that somebody needs to consider about their interests too.

He said the judiciary and the government must decide the direction for automobile industry and maintain that for future.