Automobile sector seeks cut in excise duty

New Delhi, Feb 20, 2008 : Automobile industry has sought for the reduction in the excise duty. According to analysts tracking the sector currently small cars, two wheelers and commercial vehicles are taxed at 16 %, while big cars attract an excise duty of 24 pc.

However, there is little hope that the budget will favor the automobile industry, which has been hit hard by a sharp rise in interest rates over the past year.

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