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Nitin Gadkari wants states to push for GST cut on flex-engine vehicles —‘MDs of Tata, Suzuki & Toyota have decided to…’ | Mint

Livemint

Livemint · 12m ago

Nitin Gadkari wants states to push for GST cut on flex-engine vehicles —‘MDs of Tata, Suzuki & Toyota have decided to…’ | Mint

Union Minister of Road Transport and Highways, Nitin Gadkari, has urged state governments to support a reduction in Goods and Services Tax (GST) on flex-engine vehicles. He proposed lowering the GST to 12% for flex engines, cars, and scooters in order to promote these eco-friendly options. Gadkari emphasized the economic viability, technological advancements, raw material availability, and marketability of flex engines. Several automobile manufacturers, including Tata, Suzuki, and Toyota, have committed to launching flex engine vehicles in India. Gadkari highlighted the potential market opportunities and environmental advantages of using biofuels in these vehicles.

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Our electric, hydrogen & flex industries will become number one in the world: Nitin Gadkari

Economic Times

Economic Times · 1m ago

Our electric, hydrogen & flex industries will become number one in the world: Nitin Gadkari

India is focusing on increasing ethanol use in fuels to reduce fossil fuel dependency, cut pollution, and boost agriculture. Nitin Gadkari highlighted efforts to raise ethanol blends, develop flex engines, and promote electric, hydrogen, and ethanol vehicles. Challenges include high GST on ethanol blends and the need for technological parity. Additionally, plans for infrastructure improvements and road safety were discussed, alongside strategies for economic growth and energy self-reliance.

No diesel, petrol cars in India soon? Here's what Nitin Gadkari proposes for greener economy

Money Control

Money Control · 1y ago

No diesel, petrol cars in India soon? Here's what Nitin Gadkari proposes for greener economy

Indian Union Minister for Road Transport and Highways, Nitin Gadkari, has revealed his vision to make India a greener economy by ending the import of fuel and promoting the use of biofuels. Gadkari proposes slashing the Goods and Services Tax (GST) on hybrid vehicles and aims to rid the country of over 360 million petrol and diesel vehicles. He believes that by using biofuels and alternative fuels, India can become self-reliant and prosperous while reducing its dependence on fossil fuels. Auto companies like Bajaj, TVS, and Hero are also exploring the production of motorcycles and auto-rickshaws using flex engines. Environmental activists have welcomed Gadkari's vision but urge the need for renewable energy alongside electric vehicles to tackle the climate crisis.

Nitin Gadkari writes to FM, seeks withdrawal of 18% GST on life, medical insurance premiums

Money Control

Money Control · 1y ago

Nitin Gadkari writes to FM, seeks withdrawal of 18% GST on life, medical insurance premiums

Road, transport, and highways minister Nitin Gadkari has written to finance minister Nirmala Sitharaman, requesting the removal of the 18% GST on life and medical insurance premiums. Gadkari argues that taxing these premiums is burdensome for senior citizens and hinders the growth of the sector. Both life and medical insurance premiums currently attract an 18% GST. The request was made in response to a memorandum submitted by the Nagpur Divisional Life Insurance Corporation Employees Union. The next meeting of the GST Council is expected to take place in August.

Govt aims to make Indian auto industry world's No. 1: Gadkari

YourStory

YourStory · 29d ago

Govt aims to make Indian auto industry world's No. 1: Gadkari

Union Minister Nitin Gadkari aims to make India's automobile industry the world's largest, highlighting its growth to Rs 22 lakh crore and its creation of 4.5 crore jobs, the highest in the country. Speaking in New Delhi, Gadkari noted that the industry contributes significantly to the economy and GST revenue but also emphasized the need to address pollution challenges by developing greener fuels, and diversifying agriculture towards energy and power.

Govt aims to make India's auto industry No.1 globally in next five years: Nitin Gadkari

Economic Times

Economic Times · 9d ago

Govt aims to make India's auto industry No.1 globally in next five years: Nitin Gadkari

India aims to become the world's leading automobile industry within five years, according to Union Minister Nitin Gadkari. The industry has grown significantly from Rs 7.5 lakh crore in 2014 to Rs 22 lakh crore. Gadkari credits a reduction in logistics costs to 10% of GDP from previous 16%, through investments in expressways. The express industry is projected to double by 2030, creating millions of jobs, contributing significantly to GST and customs revenue.

Osamu Suzuki, who led Japanese automaker into India, dies at 94

VCCircle

VCCircle · 8m ago

Osamu Suzuki, who led Japanese automaker into India, dies at 94

Osamu Suzuki, who served as the leader of Suzuki Motor for over four decades and played a pivotal role in establishing India as a thriving auto market, has passed away at the age of 94. Suzuki was known for his thrifty nature, implementing cost-saving measures throughout the company. He successfully guided Suzuki Motor through challenging times, such as securing engine supplies from Toyota in the 1970s and forming partnerships with General Motors. Suzuki was instrumental in establishing Maruti Suzuki in India, which currently holds a significant share of the country's car market.

Electric vehicle makers no longer need to be subsidised by govt: Gadkari

YourStory

YourStory · 11m ago

Electric vehicle makers no longer need to be subsidised by govt: Gadkari

Union Minister Nitin Gadkari stated that there is no need to provide subsidies for electric vehicle (EV) manufacturers as consumers are choosing EVs and compressed natural gas (CNG) vehicles on their own. Gadkari noted that the manufacturing costs of EVs have decreased with increased demand. He asserted that the government does not need to provide significant subsidies for EVs anymore, and that the reduced Goods and Services Tax (GST) on EVs compared to petrol and diesel vehicles is already beneficial. Gadkari expects the cost of diesel, petrol, and EVs to be the same in two years.

Nitin Gadkari asks industry not to demand tax cuts perennially. Here's why

YourStory

YourStory · 5m ago

Nitin Gadkari asks industry not to demand tax cuts perennially. Here's why

Union Minister Nitin Gadkari advised the industry against persistently seeking tax reductions, noting the government's need for funds to support welfare programs. Speaking at an event, he highlighted plans to lower India’s logistics costs from the current 14-16% to 9% within two years, enhancing global competitiveness. Gadkari emphasized balanced taxation to fund welfare for the underprivileged and urged India Inc. to cut production costs without compromising quality while focusing on reducing imports and boosting exports.

GST Council likely to deliberate on exemption of health, life insurance on Sept 9

Money Control

Money Control · 11m ago

GST Council likely to deliberate on exemption of health, life insurance on Sept 9

The GST Council is set to discuss the exemption of health and life insurance from the 18% GST levy at its meeting on September 9. The proposal is being examined by the Council's Fitment Committee, which evaluates rate rationalization suggestions. The decision will need to consider the potential revenue loss, and the committee's analysis and recommendations will play a crucial role in shaping the Council's final decision. Union Minister for Road, Transport and Highways Nitin Gadkari has formally appealed for the withdrawal of GST on life and medical insurance premiums, emphasizing that taxing these essential services restricts their accessibility and growth.

Indian minister says no need to make six airbags mandatory in cars

Reuters · 1y ago

Indian minister says no need to make six airbags mandatory in cars

India's road transport minister has decided against making it mandatory for car manufacturers to install six airbags in vehicles under the new crash test regulations. Previously, the government had planned to enforce the requirement to enhance safety on the country's roads. The decision comes after opposition from carmakers, including concerns that it could increase prices and deter buyers. Minister Nitin Gadkari stated that people would now have the choice to opt for models with six airbags if they prefer, leaving it to manufacturers and consumers to decide.

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