India's auto sector bets on scrappage policy to revive demand
Updated : August 19, 2019 10:16 AM IST
Accordingly, automobile industry's representatives have sought an 'End of Life' policy from the Central government as a measure to arrest the falling sales.
The policy, if implemented, is expected to encourage customers to go in for new purchases which will be backed-up by government incentives in lieu of their old vehicles.
At present, the sector has been impacted by a consumption slowdown which is a culmination of several factors like high GST rates, farm distress, stagnant wages and liquidity constraints.
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