Interim Budget 2014/15 – Reduction in excise duty for cars

Roland Berger Strategy Consultants 10-2011

Interim Budget for the financial year 2014/15 was presented today by India’s Finance Minister P. Chidambaram. According to the interim budget, Mr Chidambaram has given a much needed respite to the auto industry by reducing the excise duty.

Here is a quote from Dr. Wilfried Aulbur, Managing Partner, Roland Berger Strategy Consultants on the reduction in excise duty. “The reduction in excise duty gives the automotive industry a much needed relief after many quarters of demand side challenges. The action of government is welcome, but we reiterate the need to fix the basics of the Indian manufacturing model. We need good infrastructure (road, ports, etc.), reliable and competitively priced electricity and flexible labor laws that allow linkage between salary increases and productivity gains. Consistent policies must help to address the root causes of weak consumer sentiment such as high interest rates, stubbornly high inflation, and increasing fuel prices.”

Roland Berger Strategy Consultants 10-2011

Stay tuned. We will add more quotes from auto industry heads as and when available.

SIAM welcomes excise duty cuts on automobiles: Budget 2014/15

About the author

Sagar Patel

Sagar Patel

A first drive in a manual rickety old van was enough to pave the road forward for Editor in Chief, Sagar Patel. When not driving or riding, his dexterity shifts gear to voice passion through words via reviews, and news, all the while, closely monitoring updates from the auto industry.

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  • Dinesh Shah

    This is the best thing that could have happened to the indian auto industry for now. I am sure every car/bike/vehicle maker in the country is very happy with this news. The share prices of Maruti, India’s largest car maker jumped by over 20 points on the NSE, the instant this news was out!!!