Economy

Govt revenues from auto sector up 33%

Mumbai | Updated on February 27, 2011 Published on February 26, 2011

automobile_488684a.jpg   -  Business Line

The revenue received by the Government from the domestic automobile sector in the form of excise duty rose 33 per cent to Rs 6,198 crore in April-January 2010-11, according to a reply by the Ministry of Heavy Industries to a question in Parliament on Thursday.

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 per cent 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.

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Published on February 26, 2011
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