Govt’s new auto policy to dent monopoly of local manufacturers
Sources say the policy proposes cutting down duties and taxes on imported cars by 30 percent.
Similarly, it proposes a substantial reduction in the prices of locally assembled small cars so that these could be brought within the reach of the people belonging to the middle class.
Likewise, a cut in taxes on the import of complete built up (CBU) cars has been recommended.
Electric Vehicles Policy will also be the part of the new auto policy, the sources explain.