Budget 2025: Hopes of passenger vehicle makers ride on income tax cuts

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Budget 2025: Hopes of passenger vehicle makers ride on income tax cuts - Business Standard

Quick Summary:

According to experts, even if an additional 5% of people opt to buy new vehicles, it may bring a huge boost to sector.

Makers of two-wheelers and passenger vehicles are pinning hopes on the more than 10 million people who will enter the no-tax zone following the restructuring of income-tax slabs.

Hemal Thakkar, senior practice leader and director at Crisil, said: “The income booster (no income tax up to Rs 12 lakh) will possibly help the urban economy contribute in a meaningful manner.