Auto industry responds positively to Union Budget 2014

By: Autocar India
| Updated on: 14 Jul 2014, 15:54 pm

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The new finance minister Arun Jaitley today announced the Union Budget 2014-15. First, running through the announcements that are a positive

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Auto-industry-responds-positively-to-Union-Budget-2014

The new finance minister Arun Jaitley today announced the Union Budget 2014-15. First, running through the announcements that are a positive, Jaitley assured the automotive industry of the introduction of the Goods and Service Tax (GST) this year, the controversial retrospective tax was left unchanged, and a positive for small and medium enterprises (SMEs) came in the form an investment allowance for manufacturing companies who wish to invest in plant and machinery.