Budget lacks immediate measures to revive ailing sector: Auto industry

Automobile industry on Saturday said the Budget lacked immediate measures to revive the industry which has been going through a prolonged slowdown.

The industry however lauded the government's initiative to increase customs duty on imported electric vehicles and said it would help in establishing local production of such products in the country.

"The Indian automobile industry was looking forward to some direct benefits in the budget, which could have helped in reviving demand in the context of the current slowdown and huge investments made by the industry for transition to BS-VI and from that aspect, the Budget speech was not what we