Anand Mahindra has taken a view on the GST rate on vehicles. Mahindra Group Chairman Anand Mahindra says that reducing GST on vehicles will benefit the economy. In a tweet, Anand Mahindra said, "We are all looking for the Mandar Mountains which can start churning out the economy and give it a faster pace. I may be biased but the auto industry is the same Mandar mountain." According to Anand Mahindra, the auto industry has a huge impact on small companies and employment. The reduction in GST rates will have a major impact on this.
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There are many reasons for the decline in the auto industry, but the two biggest reasons are technological changes and expensive prices. In fact, there have been several major changes made by car and bike companies. These include BS-6 engines and ABS and CBS features for safety. In fact, following the new Indian government's new rules, manufacturers are incorporating new engine and safety features into their model, which have affected the prices of these products.
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The prices of their products have been made costlier by car and bike companies, which has adversely affected sales. More and more experts and manufacturers believe that the decline in the auto sector is for the early stages. Manufacturers expect the situation to return to normal soon. The reduction in the repo rate could be a lifeline for the auto sector.