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India’s Automobile Dealers Expect Partial Turnaround Leading to Job Regeneration

At present, the sector suffers from a sales downturn due to several factors like high GST rates, farm distress, stagnant wages and liquidity constraints

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India, Automobile, Dealers
The sector has witnessed around 2 lakh job losses due to the sales slowdown. Pixabay

Faced with a consumption slowdown along with the high cost of finance, the country’s automobile dealers expect a partial turnaround during the upcoming festive season which will also lead to job regeneration.

The sector has witnessed around 2 lakh job losses due to the sales slowdown.

At present, the sector suffers from a sales downturn due to several factors like high GST rates, farm distress, stagnant wages and liquidity constraints.

Besides, inventory pile-up and stock management of unsold BS-IV vehicles have become a problem for the sector.

India, Automobile, Dealers
Faced with a consumption slowdown along with the high cost of finance, the country’s automobile dealers expect a partial turnaround during the upcoming festive season. Pixabay

“We are seeing some recovery in the jobs that were lost,” Federation of Automobile Dealers Associations (FADA) President Ashish Harsharaj Kale told IANS.

“We hope the festive season will be better in terms of sales and this will have a positive effect on job recovery.”

Additionally, the industry body expects the latest government measures to kick-in and reverse the ongoing slowdown.

To help revive the sector, Finance Minister Nirmala Sitharaman has announced several steps.

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These includes allowing government departments to buy new vehicles, automobiles purchased till March 31, 2020 to avail the benefit of additional depreciation of 15 per cent, with total depreciation up to 30 per cent, and BS-IV vehicles bought till March 31, 2020 would remain operational for their entire registration period.

On Sunday, almost all major automobile makers in the country reported a huge decline in domestic sales across segments like passenger, commercial and two and three-wheeler vehicles. (IANS)

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Filmmaker Mahesh Bhatt Takes Pledge Not to Support Citizenship Amendment Act

The Bill, which has since become an Act, will provide Indian nationality to Hindus, Christians, Sikhs, Parsis, Jains and Buddhists fleeing persecution in Pakistan, Afghanistan and Bangladesh

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Mahesh Bhatt
After attending the press meet, Mahesh Bhatt on Sunday tweeted: We the people of India , having solemnly resolved to constitute India into a SOVEREIGN SOCIALIST SECULAR DEMOCRATIC REPUBLIC.(At Ambedkar's abode. After reading the Preamble of our Constitution)". Wikimedia Commons

Filmmaker Mahesh Bhatt on Sunday took a pledge not to support the Citizenship Amendment Act (CAA).

He along with Congress leader Sanjay Jha joined a protest meet here. A video is doing the rounds on the Internet in which Bhatt is seen taking the pledge, perhaps a few days back.

“We believe Citizenship Amendment Bill is discriminatory and it violates the constitutional values. We don’t accept this bill and if it becomes a law we shall boycott its execution. We pledge not to submit any documents if asked to prove our citizenship,” he has said in the video.

After attending the press meet, Bhatt on Sunday tweeted: We the people of India , having solemnly resolved to constitute India into a SOVEREIGN SOCIALIST SECULAR DEMOCRATIC REPUBLIC.(At Ambedkar’s abode. After reading the Preamble of our Constitution).”

Several parts of India have been witnessing violent protests ever since the Citizenship (Amendment) Bill was passed in Lok Sabha last week. The situation further escalated after the bill was cleared in Rajya Sabha.

The Bill, which has since become an Act, will provide Indian nationality to Hindus, Christians, Sikhs, Parsis, Jains and Buddhists fleeing persecution in Pakistan, Afghanistan and Bangladesh.

Mahesh Bhatt
Filmmaker Mahesh Bhatt on Sunday took a pledge not to support the Citizenship Amendment Act (CAA). Wikimedia Commons

The issue has caused widespread unprecedented violent protests in the northeast, especially in the states of Assam, Tripura and Meghalaya, with the agitating demonstrators demanding the withdrawal of the CAA claiming that the fresh legislation would jeopardize the demographic situations and life, culture and socio-economic positions to the 45.58 million populations of region.

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On Sunday afternoon, four buses were burnt in South Delhi as protesters clashed with police. (IANS)