India, Jan. 27 -- Auto industry body SIAM on Monday urged the government to announce an incentive based scrappage policy ahead of the Budget, while also seeking a reduction in GST on BS-VI vehicles to 18 per cent.
Society of Indian Automobile Manufacturers (SIAM) also suggested Finance Minister Nirmala Sitharaman to increase budget allocation for internal combustion engine (ICE) bus procurement by state transport undertakings.
"As SIAM, we have urged the Finance Ministry to consider announcing an incentive based scrappage policy and also increase Budget allocation for ICE bus procurement by State transport undertakings," SIAM President Rajan Wadhera said in a statement.
He further said increased cost of BS-VI vehicles may effect demand....