The Heavy Industries Ministry today pitched in for the auto industry asking Finance Minister Pranab Mukherjee to continue with the stimulus package provided to the sector during the slowdown.Heavy Industries Minister Vilasrao Deshmukh today told reporters in New Delhi, the stimulus should be continued for some more time. <br/><br/>AIR correspondent reports,at the peak of the slowdown in December 2008, the government had announced a 4 per cent across the board cut in CENVAT that helped in reducing prices and spurred demand.Besides, the states were also encouraged to buy more buses for urban transport under the JNNURM to give a fillip to the battered commercial vehicles segment. <br/><br/>Since then the auto industry has picked up steadily to post record sales in January this year. Industry players have, however, demanded that the stimulus package should be continued in the Budget as the industry is not yet out of the woods.<br/>
News On AIR | February 17, 2010 5:58 PM
Heavy Industries Minister pitches in for auto industry, Wants stimulus package to be continued