What will be the impact of Budget on Indian Car Scene

tanmay_ambre · 29th February 2008, 02:26

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!

gendarmee · 29th February 2008, 03:15

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.

LLL · 29th February 2008, 11:38

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?

dadu · 29th February 2008, 11:40

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.

Quote:

Originally Posted by LLL

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?

gendarmee · 29th February 2008, 11:42

Quote:

Originally Posted by LLL

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?

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.

LLL · 29th February 2008, 11:47

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

All agriculture loans given to farmers by SCB waived off

gendarmee · 29th February 2008, 11:52

Quote:

Originally Posted by LLL

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

All agriculture loans given to farmers by SCB waived off

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

neoonwheels · 29th February 2008, 12:26

Quote:

Originally Posted by LLL

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

All agriculture loans given to farmers by SCB waived off

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...

LLL · 29th February 2008, 12:34

Quote:

Originally Posted by neoonwheels

So 60,000 crs of rupees are off in form of this waiver... ...

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

SumitB · 29th February 2008, 12:35

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

neoonwheels · 29th February 2008, 12:37

So nano would be actually 1L on road ??

srh · 29th February 2008, 12:40

Quote:

Originally Posted by LLL

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

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!

LLL · 29th February 2008, 12:41

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...

LLL · 29th February 2008, 12:46

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% :(

NetfreakBombay · 29th February 2008, 12:53

Income tax slabs have been readjusted.

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

29th February 2008, 02:26	#1
tanmay_ambre BHPian Join Date: Jan 2008 Location: Pune. Posts: 80 Thanked: 0 Times	What will be the impact of Budget on Indian Car Scene 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!
	() Thanks

29th February 2008, 03:15	#2
gendarmee BHPian Join Date: Nov 2007 Location: India Posts: 741 Thanked: 28 Times	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.
	() Thanks

29th February 2008, 11:38	#3
LLL BHPian Join Date: Mar 2005 Location: Delhi Posts: 635 Thanked: 2 Times	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?
	() Thanks

29th February 2008, 11:47	#6
LLL BHPian Join Date: Mar 2005 Location: Delhi Posts: 635 Thanked: 2 Times	30 crores for some national institute of plant health........ All agriculture loans given to farmers by SCB waived off
	() Thanks

29th February 2008, 12:35	#10
SumitB BHPian Join Date: Jan 2007 Location: Shillong Posts: 986 Thanked: 263 Times	4% excise cut on small cars. Down to 12% from 16%. What will be the impact of this reduction?
	() Thanks

29th February 2008, 12:37	#11
neoonwheels Senior - BHPian Join Date: Aug 2005 Location: Pune Posts: 2,065 Thanked: 1,876 Times View My Garage	So nano would be actually 1L on road ??
	() Thanks

29th February 2008, 12:41	#13
LLL BHPian Join Date: Mar 2005 Location: Delhi Posts: 635 Thanked: 2 Times	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...
	() Thanks

29th February 2008, 12:46	#14
LLL BHPian Join Date: Mar 2005 Location: Delhi Posts: 635 Thanked: 2 Times	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% :( Last edited by LLL : 29th February 2008 at 12:50.
	() Thanks

29th February 2008, 12:53	#15
NetfreakBombay Senior - BHPian Join Date: Jan 2008 Location: Bombay Posts: 1,466 Thanked: 1,021 Times	Income tax slabs have been readjusted. That would mean more money in hands to buy cars/bikes.
	() Thanks