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The Budget has lot of positives for us as an auto component manufacturing group. Reduction of excise duty on 2 and 3 wheelers should lead to a price reduction and consequent spurt in demand, also waiver of loans to the farm sector can give a boost to the sale of two-wheelers in the rural areas. These two factors combined should considerably ease the pressure that the auto component sector has been facing due to slowdown in two-wheeler sales. Reduction in duties by 10 per c ent on hybrid cars is a big positive step. Also a reduction of 4 per cent in duties on small cars should see a further boost in auto sales resulting in a big plus for all our group companies.

Nirmal K Minda, Managing Director,

NK Minda Group

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