New Delhi- Auto Industry Body Siam Welcoming the government’s decision to reduce the prices of petrol and diesel, the demand for reduction in CNG prices and import duty on certain raw materials for steel and plastic products on Sunday. Tagging the Prime Minister, the industry body on Twitter said, “The auto industry welcomes the government’s move to reduce the prices of petrol and diesel. This will help in easing the inflationary pressure and ultimately help the common man. ” Narendra Modi, finance Minister Nirmala Sitharaman among others.
Reduction in import duty for raw materials for steel and plastic products and increase in export duty on steel intermediates is expected to soften steel prices in the domestic market.
The auto industry is also eager for similar support on CNG prices, which have seen a sharp rise in the last seven months. Society of Indian Automobile Manufacturers (Siam) noted.
SIAM said, supporting CNG prices will help the common man, facilitate public transport and create a cleaner environment.
Sitharaman on Saturday announced reduction of excise duty on petrol by Rs 8 per liter and on diesel by Rs 6 per liter to avoid a hike in the prices of essential fuels due to rise in international oil prices.
The Finance Minister had said that the government has reduced taxes on petrol and diesel in the backdrop of inflation.
Reduction in import duty for raw materials for steel and plastic products and increase in export duty on steel intermediates is expected to soften steel prices in the domestic market.
The auto industry is also eager for similar support on CNG prices, which have seen a sharp rise in the last seven months. Society of Indian Automobile Manufacturers (Siam) noted.
SIAM said, supporting CNG prices will help the common man, facilitate public transport and create a cleaner environment.
Sitharaman on Saturday announced reduction of excise duty on petrol by Rs 8 per liter and on diesel by Rs 6 per liter to avoid a hike in the prices of essential fuels due to rise in international oil prices.
The Finance Minister had said that the government has reduced taxes on petrol and diesel in the backdrop of inflation.