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-   -   What will be the impact of Budget on Indian Car Scene (https://www.team-bhp.com/forum/indian-car-scene/36218-what-will-impact-budget-indian-car-scene.html)

Folks starting this thread to discuss the impact of budget that will be presented today on auto industry in India and on Indian Car Scene.

Let's discuss!

The first essential thing for a discussion to start is that we know what the budget brings with it, that will start in another 7 hours and a discussion about how it to death with start as soon as news arrives.
I believe there is another thread started in mid February about this topic.

OT: I am hearing all this BS about allocations to DFC's, Rural sector, health and education sector....

and i am wondering How much of this amount would be pocketed by politicians & their cronies?

OT Ans : 95% of it.

Once Rajiv gandhi had himself admitted that only 10 paise reaches the masses out of the 1 rupee allocated.

And now with all this inflation and increased greed expect only 5 paise.

Lets look at it this way, it the present gov's last year of the term, they are going to do as much good as they can to brag later to get elected again, so probably more is gonna reach the target, still relatively more not phenomenal more.
The pocketing has been finished with in the first 2 or 3 years to satiate them.

30 crores for some national institute of plant health........

All agriculture loans given to farmers by SCB waived off :Frustrati

Thats good man, we are centuries behind in the research field.
Harmless pesticide's would be great, instead of using chemicals.

So 60,000 crs of rupees are off in form of this waiver... Guys get prepared to have a new component in already crowded tax list...

what about the new 40k crore loans that will be given out today with a date of 30-march-2007...

some good news...excise duty reduction...

hybrid cars - from 24 to 14%
small cars - 8% (i think)
General excise duty reduction from 16 to 14% - not sure if thats applicable to bigger cars

4% excise cut on small cars. Down to 12% from 16%. What will be the impact of this reduction? :D

So nano would be actually 1L on road ?? stupid:

Small Cars Excise Reduced from 16% to 12%
Excise reduction on buses
Excise reduced on 2/3 wheelers 16% to 12%

Income tax slabs changed. More money in hands for buying cars!

bad....8 lakh small service providers out of tax net....

good...
IT exemption raised to 1.5 lakhs...
1.5-3 lakhs > 10%
3-5 20%
10 l > 30%

no change in surcharge...

from a cars perspective...i dont see any large scale changes to give a big boost. But yes, there may be a marginal increase in sale of small cars due to more money in hands of small taxpayers...

hybrid cars - there is no change in customs duty so imported components will remain costly as ever. Since there is a 10% reduction on excise so i am guessing a 1 lakh reduction in cost of honda civic hybrid whenever it is launched...final price maybe 19lakhs...

Short term Capital Gains raised to 15% :(

Income tax slabs have been readjusted.

That would mean more money in hands to buy cars/bikes.