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Auto sector gets a breather as FM announces measures to boost demand

Resumption of car purchase by govt departments, increase in depreciation to 30% may boost sales

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Automobile makers | automobile manufacturer | Maruti Suzuki

Arindam Majumder & Shally Seth Mohile  |  New Delhi/Mumbai 

Facing its worst slowdown in two decades, the auto sector got a breather on Friday as Finance Minister Nirmala Sitharaman announced measures to boost demand. Executives said despite the weak economic scenario, the announcements would help send a positive signal to consumers just before the start of festive sales.

This is likely to translate into better-than-expected sales during the festive season. Measures announced to boost demand were a scrappage policy and allowing an additional 15 per cent depreciation on vehicles acquired till March 2020. In addition, BSIV vehicles purchased ...

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First Published: Sat, August 24 2019. 01:14 IST