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Nitin Gadkari: Road Transport Minister Nitin Gadkari said on Tuesday that there are plans to propose an additional 10 percent tax on diesel engine vehicles. Nitin Gadkari said that this proposal will be sent to the Finance Minister.
In 63rd Society of Indian Automobile Manufacturers (SIAM) Convention Nitin Gadkarigave this information. Gadkari noted that he has drafted and intends to meet Finance Minister Nirmala Sitharaman in a meeting on Tuesday to request the GST hike.
Gadkari said that this is the only way to reduce the consumption of diesel vehicles in the country. After Gadkari’s statement, shares of Mahindra & Mahindra were down 2.38%, shares of Tata Motors 2% and shares of Maruti Suzuki 0.8% by 12:00 pm.
Gadkari had already made his views clear about reducing diesel vehicles. In 2021, By Gadkari Automakers were urged to reduce production and sales of diesel-engined vehicles.
Earlier in May, the Energy Transformation Advisory Committee had suggested that India ban diesel-powered four-wheelers in all cities with a population of more than 1 million by 2027.
The Energy Transformation Advisory Committee was formed under the leadership of former Petroleum Secretary Tarun Kapoor. The committee includes officials from state-owned oil companies and an official from the oil ministry.
