| Date: |
28-02-2011 |
| Subject: |
Govt Revenues From Auto Sector Up 33% |
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The revenue received by the Government from the domestic automobile sector in the form of excise duty rose 33% to Rs 61.98 billion in April-January 2010-11, according to a reply by the Ministry of Heavy Industries to a question in Parliament.
The sharp growth in the revenues from the sector is on the back of a strong vehicle-sales growth (including that of scooters) of 28% in the same period to 12.67 million units, according to Society of Indian Automobile Manufacturers.
Total exports during 2010-11 (April-January) stood at 1.93 million units. ``The Government has taken a number of initiatives to boost the auto industry and to improve exports. This includes setting up of the state-of-the-art automotive testing, homologation and research infrastructure through National Automotive Testing and R&D Infrastructure Project (NATRIP) at seven sites across India,`` said an official statement.
Source : myiris.com
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