Last week, the market saw hike in petrol prices and key rates as well. In an interview to CNBC-TV18, Rajiv Bajaj, managing director of Bajaj Auto said, these factors are very inimical to growth of any durable like automobile. “The fuel price hike is perhaps of greater concern,” he added.
The Finance Ministry has announced the broad contours of the new drawback scheme that will come into effect from October 1, 2011. In an interview to CNBC-TV18, Saumitra Chaudhuri, author of The Drawback Rates Report said, new drawback rates could be worked out next year.
Finance Secretary RS Gujral, an old hand at trade matters, today announced the new drawback scheme. Speaking with CNBC-TV18's Siddharth Zarabi, he made it clear that the new scheme had taken into consideration the concerns of India Inc.