Budget 2020: 'Overregulation' killing auto industry, says Rajiv Bajaj

Bajaj's remarks come against the backdrop of one of the most prolonged slowdowns plaguing India's automobile market, amid a slowing economy and dipping consumer confidence

The automobile industry is facing a protracted slowdown because of “overregulation”, and the upcoming Budget is unlikely to address its woes, Rajiv Bajaj, managing director of Bajaj Auto, said on Tuesday. 

“In my view, the single most important reason responsible for the current state of affairs the industry finds itself in is overregulation. It’s overregulation that is killing the industry,” he said on the sidelines of an event in Mumbai, where the company revealed the prices of the e-Chetak.  

Bookings for the company’s maiden offer in the electric segment, with prices starting from Rs 1 lakh, will open on Wednesday and deliveries