Rural India continues to lead the country's consumption recovery, outpacing urban demand despite income tax cuts and GST 2.0 reforms aimed at stimulating city-based spending, according to Motilal Oswal Financial Services Ltd. (MOFSL) in its latest ECOSCOPE report titled "Rural Rules, Urban F
The demand upcycle in the passenger vehicle (PV) segment could continue up to FY29, supported by GST 2.0 reforms and a strong outlook for the automobile sector, according to a report by Nuvama.
The positive macroeconomic indicators of Indian economy, such as income tax cuts, easing lending rates, and above-normal rainfall, have not yet translated into a revival in vehicle demand in the country, according to a report by Incred Equities.
Finance minister Nirmala Sitharaman on Saturday announced zero tax on income of up to Rs 12 lakh. The union government will forego a revenue of Rs 1 lakh cr because of this cut.
Union Budget raising the income tax exemption limit to Rs 12 lakh is expected to give a big boost to the demand of 2-wheelers (2Ws) and passenger vehicles (PVs) according to a report by the global brokerage firm Jefferies.