Reducing goods and services tax (GST) on two-wheelers to 18 percent from the highest slab of 28 percent currently, could make bikes cheaper by up to Rs 10,000, said Rajiv Bajaj, Managing Director at Bajaj Auto.
The cut in export incentives has been another shocker. Bajaj Auto has lost close to Rs 300 crore due to the ceiling on export incentives, he said.
Bajaj said the government needed to give consumers incentives at a time when jobs have been lost and affordability is low. “Overregulation has led to a 30-35 percent increase in prices for consumers and cost to the consumer needs to be brought down,” he added.