Up but not out of the woods: Pain points & what's on offer in Budget

There was a 7 per cent year-on-year decline in the January numbers reported by the country's largest manufacturer Tata Motors

automobile, COMMERCIAL vehicles, cvs, sales,auto sales, car, equipment, manufacturing, component, production, jobs, workers
Commercial vehicle sales are seen to be a proxy for economic activity.
Business Standard
1 min read Last Updated : Feb 01 2023 | 10:18 PM IST
Pain points

Capacity utilisation is higher than it was before, but there has been a dip in the latest readings. Subdued demand may affect utilisation rates going forward as the world braces for a potential global recession. The domestic demand situation has also been challenging.

Commercial vehicle sales have faced headwinds.

There was a 7 per cent year-on-year decline in the January numbers reported by the country’s largest manufacturer Tata Motors. Commercial vehicle sales are seen to be a proxy for economic activity.

Also Read


What’s on offer

Income tax relief offered to tax payers can put more money in the hands of consumers. This in turn can help boost their ability to make additional purchases, acting as a boost for demand. The proposals cover salaried professionals as well as pensioners.

The government has sought to boost local manufacturing of high-end automobiles through higher Customs duties. There are also sops in the form of Customs duty exemptions for lithium-ion battery manufacturing, as well as a scrappage policy.

One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Topics :Customs dutyIncome taxBudget 2023commercial vehiclesAutomobile

Next Story