Excise duty cut yet to spur on sales

New Delhi, March 21, 2008 : Excise duty cut yet to spur on sales for Maruti, Hyundai India. According to a top executive of Maruti Suzuki India Ltd ,the finance ministry's bid to boost consumption with a 4 percentage points cut in excise duty on cars doesn't stoke demand as expected because buyers stay away as lending rates are still prohibitive.

In February, finance minister P. Chidambaram had cut excise duty on a variety of vehicles, including small cars, to 12persent to boost demand in the auto industry.

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