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Top industry analysts and research agency Crisil (CRISIL) has made these estimates. However, companies have not yet announced official cuts, as they are making final calculations regarding the impact of tax deduction. Just before the festive season, both the customer and the companies will benefit from this gift given by the government for GST deduction. Experts believe that due to decrease in GST, there is a possibility of strong jump in car-bike sales.
Maruti Alto will be Rs 36000 cheap
The price of Maruti Alto will be reduced by Rs 36000 after GST decreases. Currently, its base model is priced at Rs 4.23 lakh in Delhi. This can be Rs 3.87 lakhs due to decrease in GST. Due to this, this car will also be in reach of low income people. This will save Rs 36000 directly, while buying on loan will also reduce EMI about thousand rupees. While EMI at a price of 4.23 lakhs, ₹ 8,570- ₹ 9,180 (8% -11% interest rate) will be made, it will be reduced to ₹ 7,840- ₹ 8,390.
Hyundai Creta will be a cheap of one lakh rupees
7000 rupees will be saved on Honda Activa
Not only a car, two-wheelers will also be light on the pocket. The price of the popular Honda Activa scooter will decrease around ₹ 7,000. At the same time, the choice of youth will get relief of up to ₹ 9,500 on Bajaj Pulsar 150.
There will be a boom in sales
Santosh Iyer, MD of Mercedes-Benz India, described it as a big step for consumers. According to him, this will not only increase the ability to spend, but will also create new employment opportunities. Rajesh Jejurikar of Mahindra & Mahindra said that tractors and agricultural machinery will now be more economical for farmers. This will promote both farming and business sectors.
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