Finance minister Nirmala Sitharaman took stock of economic slowdown concerns in a meeting with India Inc.
A lot of discussions are taking place and every day the finance minister and the finance ministry officials are meeting top executives from various companies specifically in the automobile sector.
It is believed that a paper has gone from the industry bodies, Automotive Tyre Manufacturers Association (ATMA), Society of Indian Automobile Manufacturers (SIAM) and also Federation of Automobile Dealers Associations (FADA) and all of them are asking for a goods and services tax (GST) reduction.
They are also asking for a scrappage policy, higher depreciation, easier liquidity norms and also positive sentiment. They feel that there needs to be some positive messaging at a time when the industry is looking at a number of policy changes and that has put a doubt in the minds of consumers across the country.