GST rate cut must to revive auto demand, says M&M MD Pawan Goenka

Mahindra & Mahindra’s Managing Director (MD) Pawan Goenka said on Thursday automakers had taken every step to revive consumer sentiment, but only a goods and services tax (GST) rate cut would boost demand. “I think the industry has done whatever it could. An intervention from the government can only revive the demand,” he said, adding: “It’s not good to ask for a cut in GST rate, but we are now in a situation where only that can help us.”  

M&M has decided to defer capacity expenditure by at least 15-20 per cent in light of the slowdown. A lending crisis among