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Infra spending push to revive auto sales: Govt (2nd Lead)
New Delhi, Sep 5 (IANS) The central government could award major road projects and take a call on the vehicle scrappage policy to arrest auto sales downturn, Union Minister Nitin Gadkari said here on Thursday.
The government is expected to award 68 projects, including the Rs 5 lakh crore expressway development. The Minister of Road Transport & Highways and Micro, Small and Medium Enterprises was speaking at the annual convention of the Society of Indian Automobile Manufacturers (SIAM).
These projects would generate demand for automobiles, like trucks, he said and added the government had no plans to ban petrol and diesel vehicles.
Gadkari said an old vehicle scrappage policy was under consideration.
At present, the sector suffers from a sales downturn due to factors, like high GST , farm distress, stagnant wages and liquidity constraints.