(a) whether the Government has noticed that Indian automobile industries are experiencing major stagnation;
(b) if so, the reaction of the Government thereto;
(c) whether the Government is planning to provide any stimulus packages to the industries and if so, the details thereof; and
(d) whether the Government has conducted any study regarding the job loss in this sector and if so, the details thereof?
MINISTER OF STATE (FINANCE)
(SHRI ANURAG SINGH THAKUR)
(a) & (b): Yes, the Government is aware that the major automobile industries are experiencing major stagnation. According to the data reported by Society of Indian Automobile Manufacturers, during the period from April-September, 2019, around 11.7 million vehicles (all categories) were sold in the country, as against 14.1 Million vehicles sold during the same period in the previous year.
(c) The Government, as a policymaker, always attempts to kickstart the sluggish economy through a package of measure for comprehensive and continued development of the auto sector as and when required.
Govt has taken several measures in this regard viz (i) BS IV vehicles purchased to be operational till 31.03.2020, (ii) Additional 15% depreciation on all vehicles to increase it to 30% acquired during the period from now till 31.03.2020, (iii) Both EVs and ICVs will continue to be registered, (iv) To boost demand, Govt. has lifted the ban on purchase of new vehicles for replacing all old vehicles by Departments and (v) Revision of one time registration fees being deferred till June 2020.
(d): Department of Heavy Industry, which is the nodal Ministry for automobile sector, has informed that they have not conducted any study regarding the job loss in the sector.
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