Budget wishlist: Reduce GST on bicycles to 5% from 12%, says Hero Cycles
PTI, Jan 28, 2020, 4:58 PM IST
New Delhi: Leading bicycle maker Hero Cycles on Monday urged the government to reduce GST on bicycles from 12 per cent to 5 per cent ahead of the Union Budget to revive demand in the rural markets.
The company has also sought extension of FAME-II benefits to electric bicycles.
“The budget must focus on reviving slumping demand across the country through a series of measures including re-adjusting GST slabs to put more disposable income into the hands of people,” Hero Motors Company (HMC) Chairman Pankaj M Munjal said in a statement.
The bicycles are largely used by the low-income group and rural populations and therefore need to be made cheaper by slashing GST from the current 12 per cent to the lowest 5 per cent slab, he added.
“Similarly, we also want the government to extend FAME-II benefits to electric bicycles,” Munjal said.
Lower GST on bicycles would provide relief to millions of low-income households, the company said.
“We hope the government recognises the need to promote electric bicycles as much as the need to promote electric cars. While electric cars address the problem of pollution, they do not address the concern of traffic congestion in Indian cities,” Munjal said.
Electric bicycles are both eco-friendly and space-friendly and also offer a viable solution to the problem of range anxiety that comes with lack of charging infrastructure as they can be easily pedalled back in case of battery loss, he added.
Extending the subsidy benefits of FAME-II to electric bicycles will help manufacturers offer more affordable products to consumers, Munjal noted.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official
Air India Express increases flight operations from northeast destinations
Mcap of 8 of top-10 most-valued domestic firms jumps Rs 1.55 lakh cr; HDFC Bank, TCS sparkle
Myntra pilots foray into quick commerce with ‘M-Now’ in select locations of Bengaluru
Never entered into pact to operate airport in Kenya: Adani
MUST WATCH
Latest Additions
No one has right to break law: BJP on Sambhal violence
Ullal: Auto-rickshaw accident near Konaje claims driver’s life
Congress victory in bypolls not a clean chit to CM in MUDA case: R Ashoka
IPL 2025 | Got someone who can do captaincy job: Ricky Ponting on Shreyas Iyer
Will review INDI alliance’s dismal performance in Maharashtra, says Tejashwi Yadav
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.