Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company. It is India's second largest car manufacturer and largest car exporter. HMIL faces several challenges including the COVID-19 pandemic, introduction of GST, high interest rates, and an economic slowdown. It also faces industry challenges such as the transition to BS6 emission standards, an NBFC liquidity crisis, declining demand, and increased vehicle costs. Ways to reignite the automobile sector discussed include reducing corporate taxes, improving infrastructure, streamlining approvals, enhancing workforce skills, reducing personal taxes, lowering GST rates for small units, and implementing a vehicle scrappage policy.
This PPT is on automobile industry- four wheeler sector, by which you will be able to understand market share, and performance of automobile- four wheeler sector.
An Analysis of Automobile Industry of India as a Market StructureMuhammad Anowar
Automobile industry is a symbol of technical marvel by human kind. Being one of the fastest growing sectors in the world its dynamic growth phases are explained by nature of competition, product life cycle and consumer demand. Today, the global automobile industry is concerned with consumer demands for styling, safety, and comfort; and with labor relations and manufacturing efficiency. The industry is at the crossroads with global mergers and relocation of production centers to emerging developing economies.
Asia has become the major consumer as well as supplier of automobiles. India is concentrating on Middle East and south Asia beside traditional developed country destinations. With the gradual opening up of the component sector, now the challenge is for individual governments to support the development of domestic critical component and sub-system suppliers through, improvement in the investment environment, stronger patent regimes and incentives for R&D.
This PPT is on automobile industry- four wheeler sector, by which you will be able to understand market share, and performance of automobile- four wheeler sector.
An Analysis of Automobile Industry of India as a Market StructureMuhammad Anowar
Automobile industry is a symbol of technical marvel by human kind. Being one of the fastest growing sectors in the world its dynamic growth phases are explained by nature of competition, product life cycle and consumer demand. Today, the global automobile industry is concerned with consumer demands for styling, safety, and comfort; and with labor relations and manufacturing efficiency. The industry is at the crossroads with global mergers and relocation of production centers to emerging developing economies.
Asia has become the major consumer as well as supplier of automobiles. India is concentrating on Middle East and south Asia beside traditional developed country destinations. With the gradual opening up of the component sector, now the challenge is for individual governments to support the development of domestic critical component and sub-system suppliers through, improvement in the investment environment, stronger patent regimes and incentives for R&D.
This is a ppt. on Indian Automobile Industry by Nithish Krishnan, who is an Automobile Expert/Advisor in cartoq.com... From this ppt., you will be able to know the history, current situation, entry of foreign brands, informations about the internationally acclaimed FIAT multijet engine which is being called as "The National Engine of India" & about SIAM (Society of Indian Auto Manufacturers). Also, it contains more info about Maruti Suzuki, Hyundai Motors & Tata Motors...
Indian auto industry contributes approx 7.1% o the GDP of India. 31% of the small cars sold globally were manufactured in India (FY 2014-15). With approx. 20 million vehicles sold annually- auto industry has a great potential to engine Make In India. The presentation discusses about the market size, advantage, growth drivers, key segments , FDI & opportunities for Indian MSMEs in this sector.
Swot analysis of automobile industry in IndiaShri Theja
SWOT is an important tool to understand the internal and external that affect on company's operations. This is a presentation on Swot analysis of automobile industry in India; that will help students of MBA, BBM and other discipline during exams and presentations.
SWOT Analysis Covid-19 Impact on Indian Automotive IndustryRahman A
SWOT Analysis Post Covid-19 Impact on Indian Auto Industry.Automobiles represent freedom and economic growth. Automobiles allow people to live, work and travel in ways that were unimaginable a century ago. Automobiles provides access to markets, to doctors, to jobs. Nearly every automobile trip ends with either an economic transaction or some other benefit to the quality of life
This is a ppt. on Indian Automobile Industry by Nithish Krishnan, who is an Automobile Expert/Advisor in cartoq.com... From this ppt., you will be able to know the history, current situation, entry of foreign brands, informations about the internationally acclaimed FIAT multijet engine which is being called as "The National Engine of India" & about SIAM (Society of Indian Auto Manufacturers). Also, it contains more info about Maruti Suzuki, Hyundai Motors & Tata Motors...
Indian auto industry contributes approx 7.1% o the GDP of India. 31% of the small cars sold globally were manufactured in India (FY 2014-15). With approx. 20 million vehicles sold annually- auto industry has a great potential to engine Make In India. The presentation discusses about the market size, advantage, growth drivers, key segments , FDI & opportunities for Indian MSMEs in this sector.
Swot analysis of automobile industry in IndiaShri Theja
SWOT is an important tool to understand the internal and external that affect on company's operations. This is a presentation on Swot analysis of automobile industry in India; that will help students of MBA, BBM and other discipline during exams and presentations.
SWOT Analysis Covid-19 Impact on Indian Automotive IndustryRahman A
SWOT Analysis Post Covid-19 Impact on Indian Auto Industry.Automobiles represent freedom and economic growth. Automobiles allow people to live, work and travel in ways that were unimaginable a century ago. Automobiles provides access to markets, to doctors, to jobs. Nearly every automobile trip ends with either an economic transaction or some other benefit to the quality of life
Industry analysis and discussion about top 5 companies in Automobile industry, Its 5 years CAGR, Discussion about porters 5 force analysis, Industry growth, and its future prospects.
Car market in India has evolved a lot since our Independence, but for the last few years the Indian automobile industry has witness testing time and COVID 19 attack has proved to be the worst. That doesn't mean it is the end. The auto sector of India has started showing signs of recovery but it will take a long time. These stats and facts of the Indian automobile industry will surely help you to get a clear understanding of that.
Application of OM in Automobile SectorMayank Gupta
This ppt talks about the various concepts taught at undergraduate level in Operations Management. Often students find operations management tough but this ppt gives a jist of the concepts. It is a request from people to take this ppt as a reference only.
The Indian Automotive Industry - Evolving DynamicsVarun Bhandari
This PPT Is About The Indian Automotive Industry - Evolving Dynamics, Indian Auto Sector - Medium Term - Growth, Consolidation, Indian Auto Sector – Long-term - Green revolution, Mobility revolution, About KPMG In India
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
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Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
2. ABOUT HYUNDAI MOTOR INDIA
Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of
Hyundai Motor Company (HMC). HMIL is the second largest car
manufacturer and the number one car exporter since inception in
India. It currently has nine car models across segments – SANTRO,
GRAND i10, GRAND i10 NIOS, ELITE i20, AURA, XCENT, VERNA,
ELANTRA, VENUE, CRETA, TUCSON and KONA Electric. HMIL’s fully
integrated state-of-the-art manufacturing plant near Chennai boasts
advanced production, quality and testing capabilities.
HMIL forms a critical part of HMC’s global export hub. It currently
exports to around 88 countries across Africa, Middle East, Latin
America, Australia and Asia Pacific. To support its growth and
expansion plans, HMIL currently has 493 dealers and more than
1,309 service points across India. In its commitment to provide
customers with cutting-edge global technology, Hyundai has a
modern multi-million-dollar R&D facility in Hyderabad. The R&D
Centre endeavors to be a center of excellence in automobile
engineering.
Founded: 6 May 1996
Headquarter: Chennai,
Tamil Nadu, India
CEO: Seon Seob Kim
Type: Subsidiary
Parent: Hyundai Motor
Company
3. MAJOR CHALLENGES FACED BY
AUTOMOBILE SECTOR IN INDIA
Macroeconomic Challenges
Emergence of Covid-19: India came in the grip of the
coronavirus pandemic around March 2020. Subsequently, halt in the
economic activities and the nationwide lockdown because of this
pandemic resulted in a steep decline in the already stressed Auto
Industry in the country.
According to the latest data by the industry body, Society of Indian
Automobile Manufacturers (SIAM), the month of June 2020 witnessed
a 51 percent drop in total domestic sales at 1,094,363 units as against
2,253,407 units in the same period last year.
Passenger vehicles moved to negative with 49.6 percent decline in
domestic sales at 105,617 units in June 2020 as compared to 209,522
units sold in the same period last year.
Introduction of GST:Automobiledealers and
manufacturers charge a particularamount of GST on
the sale price of vehicles, and other ancillaryservices
such as insurance, accessories, etc. Taxation of these
supplies is a big challenge for Automotive dealers.
4. High Interest Rates: High interest rates alwaysaffect
consumer spending decision, especially when he
considers buying a big item like a car. When the rate
of interest is high, it shows the overall high level of
buyer demand for goods and services. In the field of
automobiles,it signifies a relativelyhigh figure for
the demand of vehicles. And when the same supply
of vehicles does not meet the demandsof
consumers, the car prices upsurge naturally.The
difficulty is that the increased demand of vehicles
and high interest rates pointtowards rapid growth of
economy while this can actually lead to disastrous
economic slump.
Economic slowdown: India’spassenger vehicle sales
declinedthe most in two decades in August 2019
due to a continuingslump in demand amid slowing
economic activity and an increase in vehicle
ownership costs. GDP growth of 5.8% and 5% in Q1
and Q2 (2019-20) clearly shows that the economy is
stressed. Data released by industry body Society of
IndianAutomobileManufacturers (SIAM) showed
passenger vehiclesales decreased for the tenth
straight month in August by 31.57% to 196,524 units.
This was the sharpest fall registered since SIAM
started recording data in 1997-98.
5. Industry Specific Challenges
1. Introduction of Bharat Stage VI norms: Whilst
grappling with one of the worst slowdownsin recent
times, the auto industry also has to ramp down its
productionof BS-IV vehicles before the deadline,so
that the BS-IV stock is completely sold out, as post the
deadline,BS-IV vehicles will equate to mere scrap.
Meanwhile,automakershave to simultaneouslyinvest
in buildingBS-VI engines and ramp up the production
of BS-VI vehicles.
2. NBFC Crisis: After the dramatic default by IL&FS last
September, the NBFC sector has been faced with a
major liquiditycrunch. The overall exposure of mutual
funds to financialsectors plummeted by approximately
Rs 64,000 crore between July 2018 and June 2019.
Since NBFCs are the major financers of customers who
do not approach banks, the liquiditycrisis of the NBFC
sector has affected auto sales to a large extent. The SBI
report assigns a 30 percent weightage to this factor in
explainingthe auto slowdown.
3. Decline in demand: According to the report, a
significant decrease in the demand, especiallyin rural
areas, for new automobilesis responsible for the
degrowth of the auto industry. This factor, as per the
report, is another reason behindthe auto slowdown
and has a weightage of 20 percent.
4. Increased acquisition costs: Vehicleprices have seen
an upward revision in 2019 and the trend is expected
to continue in 2021 due to varioussafety, insurance
and emission norms related compliancecosts. Higher
6. insurance costs coupled with the introductionof the
GST have increased acquisitioncosts by 2-5 percent.
This factor is 10 percent responsible for the slowdown,
according to the report.
5. New axle load norms: In July 2018, the government
increased the officialmaximum load-carrying capacity
of heavy vehicles by 20-25 percent with the aim of
bringing down logistics costs. However, the decision
adversely affected the sale of automobiles,particularly
commercial vehicles and is believed to have a
weightage of 10 percent in explainingthe declinein the
auto industry sales.
6. Other factors: Slowdown in new car sales suggests that
the demand is shifting towards a pre-owned car market
because of significantlylower costs of second-hand
vehicles as compared to the new ones. The pre-owned
car market in India has been expandingconsiderablyin
the past few years and buying and selling of second-
hand cars exceeded the sale of new cars in 2018-19.
Further, the increased availabilityof automobilerentals
promotes consumers to rent vehicles instead of buying
them. Finally,the lack of a clear migration policy
towards Electric Vehicles (EV) creates confusion among
buyers, contributing owards a reduction in auto sales.
7. Cab Services and Rental Agencies: The companies like
Uber, Zoomcar, Ola are giving great amount of
challenge to all the automobilecompaniesincluding
Hyundai.Speciallyin Metro cities like Delhi, Gurgaon
which witness huge amount of traffic and parking
problems, so people prefer using the rental and cab
services in these cities.
7. Ways to Reignite the Automobile Sector
Irrespective of the reasons, continued slowdown in the auto sector is a matter of
concern as it provides large employments and contributes ~7% to the GDP. Prolonged
de-growth and production cuts have already claimed around 2.5 lakh jobs in the sector
and has a cascading effect on other sectors as well. Therefore, immediate steps have to
be taken for not only boosting auto sector growth but also for improving overall
manufacturing and demand scenario.
India, so far, has lagged behind in attracting the units shifting their bases from China
post the trade war with the USA. This is despite the fact that India is already a large
market (Indian imports from China itself is USD 70 billion). Reduction in corporate tax,
more particularly for the new manufacturing units, is a big step in improving India’s
competiveness in attracting investments. However, this alone is not sufficient. More
structural reforms, improvement in infrastructure, streamlining the approval processes,
enhancing the skill-set for the worker etc are urgently needed.
Not only this, the impact of tax cut will come in a long run and will address more of the
supply side issues. For improving the demand, the Government needs to put money into
the hands of the people. This may be achieved by increased spending on infrastructure,
clearing the dues of the contractors/suppliers (of government) in time, reduction in the
personal tax (time to reward people for improved tax compliance) etc. Also, the GST
rates for the smaller units have to be reduced. These are the units which provide jobs to
lakhs of people.
So far many of them were out of tax net and it was one of their USPs to compete with the
large players. Suddenly putting them in the same bucket as the large units has taken
away their competitive advantage. Therefore, If the Government is prodding them for
better tax compliance, a support in the form of lower tax and compliance burden, at
least in the medium run, is the need of the hour. Further, an early implementation of the
scrappage policy for vehicle would help not only in generating the demand but also
bring the much needed clarity towards purchasing decisions for the buyers.