STIMULUS PACKAGE * India - Reactions to govt one from auto sector
The government's special fiscal package for truck and bus makers will create a demand pick-up...
New Delhi,India -The Economic Times (Gurgaon,Haryana,India), by Nandini Sengupta -2 Jan 2009: -- ... but ultimately, consumer interest will be driven by ground-level revival of business, say truck and bus makers... "There are three elements of the package," said Pawan Goenka, COO-automotive division, M&M. First public banks will offer a special line of credit to NBFCs for truck and bus financing which will "ease the credit crunch and make it easier to buy a new vehicle". Second commercial vehicles bought from January 1 to March 31 will be able to claim 50% accelerated depreciation which will "act as a big price discount". And lastly states will be offered help under the JNNURM to buy buses for their urban transport systems "unlocking a block order.
Labels: automakers' crisis
posted by Unknown @ 12:51 PM
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