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Lower automobile costs resulting from the recent tax sops announced to prop-up growth and reverse the economic slowdown, along with the upcoming festive season offers, have the potential to accelerate the sector’s sales, industry insiders said.
Market observers contended that reducing effective corporate tax rate to 25.17 per cent (inclusive of all cess and surcharges) from 30 per cent for all domestic companies will allow more auto firms to reduce prices.
At present, Maruti Suzuki has announced an immediate Rs 5,000 cut in the prices of its bestselling cars.
Besides, other companies such as Bajaj Auto, Piaggio India and Isuzu Motors India too have announced festive season discounts.
“Lower prices can increase demand incrementally, but cannot be expected to boost demand significantly,” Sridhar V., Partner at Grant Thornton India LLP, told IANS.
“Increase in liquidity will also help in increasing borrowings and thereby impacting buyers’ interest positively,” he added.
According to Fitch Ratings Associate Director Snehdeep Bohra: “Lower tax can help auto OEMs cut prices.
“But the overall scope for price reduction (as percentage of existing price) may not be very big in itself to spur demand… Improvement in sentiment and passing on of lower interest rates will be key.”
Not just reduced prices but even an expected up-tick in investment, courtesy the savings afforded by the tax sops, will aid the commercial vehicle segment.
“The effective corporate tax reduction is indeed a big supply side reform and should help spur investment cycle, which has been perpetually crippled,” Madhavi Arora, economist with Edelweiss Securities, told IANS.
“However, the supply side tax reforms generally have relatively long term economic returns, albeit impacting the revenue side in the near term,” Arora said.
At present, the automobile industry is suffering from a slowdown caused by several factors such as high GST rates, farm distress, stagnant wages and liquidity constraints.
The industry’s sales and production levels have dramatically plunged, leading to job losses. In August, all major Original Equipment Manufacturers (OEMs) comprising passenger, commercial, two and three-wheeler manufacturers have reported massive decline in domestic sales.
As per the Society of Indian Automobile Manufacturers’ (SIAM) August sales figures, the overall sectoral offtake in the domestic market has plunged 23.55 per cent to 1,821,490 units, from 2,382,436 units sold during the corresponding month of the previous year.
Moreover, the industry has estimated that around 15,000 contractual manufacturing jobs have been lost and another million are at risk if the slowdown is not reversed. (IANS)
By Monika Manchanda
Eating seasonal and locally available fruit has many health benefits ranging from reducing sugar and inflammation levels to fighting high blood pressure -- thanks to their abundant vitamins and mineral presence! They are a powerhouse of antioxidants like vitamins A, B, C, E, and minerals like iron, calcium, magnesium, and fiber.
The fruits listed below are not just diabetic-friendly but are loaded with fiber and water content which can slow down the sugar spikes and sugar absorption rate. Apples are not just nutritious and filling; According to a study, they are significantly associated with a lower risk of type 2 diabetes if consumed in moderation. Turns out there is a truth in the old saying, "An apple a day keeps the doctor away", after all!
Star fruit: This sweet and sour fruit is rich in dietary fiber and vitamin C. It also positively impacts anti-inflammatory processes and can help repair cell damage, and it has minimal fruit sugars as well. Kiwi fruit is an excellent source of Vitamin E, K, and potassium, and they are low in fruit sugars as well, which makes it a perfect diabetic-friendly fruit.
Pear are nutrient-rich, and they are known to fight inflammation and improve digestion.? Studies also suggest that consuming pears along with a healthy diet reduces the risk of type 2 diabetes. Orange: This citrus fruit is full of fiber that helps slow down sugar absorption into the bloodstream, and its vitamin C component helps improve immunity levels.
Keywords: Diabetics, Apples, Star fruit, Pear, Melons, Kiwi fruit
By Nimerta C Sharan
Exciting news for all handbag lovers, luxury fashion house Louis Vuitton recently launched their limited edition handbags 'Artycapucines - Chapter 3'. Six internationally -- acclaimed artists have transformed the black canvas of the timeless Capucines bag into beautiful art pieces. Each bag will be available in a limited edition of 200 and will be released worldwide at the end of October 2021.
Looking for a quick festive fashion fix for you and your loved ones? E-commerce giant AJIO has announced it's hottest fashion sale starting September 30, 2021. The shopping platform has roped in stylista Sonam Kapoor as the face of the sale that will offer more than 2500 brands at discounted prices.
The country's leading design house, Good Earth, in collaboration with textile designer Madeline Weinrib will present its collection of 'butah' motif dinnerware and home textiles at the Metropolitan Museum of Arts, New York. The 'Heirloom Project' that honours diverse Islamic design techniques will display curated products from across the globe.
Sweet dreams are made of this! Iconic French patisserie Laduree has opened its first Indian outpost at Delhi's upscale Khan Market. Spread over three floors, the bakery currently has twelve macaron flavours, their signature pastries and tea cakes and other brunch and high-tea items on the menu. Bon appetit.
Bright And Beautiful
Raw Mango's latest festive edit 'Moomal' goes live on their website on September 26, 2021. Inspired by the richness and diversity of Rajasthan, the collection consists of organza and silk saris and shararas, gota lehengas and kurtas and embroidered odhnis. The colours and silhouettes are just right for the upcoming festive season. (IANS/ MBI)
Keywords: Lifestle, AJIO, sale, Deepika PAdukone, saris, Motifs, artisan, art
She took to Instagram to share her experience, detailing that doing all that over the six months period left her with "permanent stretch marks". "Gaining 20 kgs in 6 months and loosing it all within 6 months that too in my thirties messed up many things in my bodya I also have permanent stretch marks as well but art comes to life with a price and more often than not price is the artist him/herself," she wrote.
"Thalaivii" showcases the varied aspects of Jayalalithaa's life, tracing her journey as an actress at a young age to becoming the face of Tamil cinema, as well as the rise of the revolutionary leader who changed the course of the state's politics. Talking about her upcoming works, Kangana currently has 'Dhaakad'.
She is also shooting for her next 'Tejas', where she plays a fighter pilot. The Indian Air Force was the first of the country's defence forces to induct women into combat roles in 2016. The film takes inspiration from the landmark event. 'Tejas' is directed by debutant Sarvesh Mewara. The film will be RSVP's second film which pays a tribute to the Indian military after the immensely successful film "Uri: The Surgical Strike" which was released in January 2019. (IANS/ MBI)
Keywords: Kangana Ranaut, Thalaivii, bollywood, stretc marks, actress, tamil cinema