The fall in international oil prices had resulted in six consecutive reductions in petrol and diesel prices and if international oil prices continue to fall, the benefit will certainly be passed on to consumers, said the Minister of State (I/C), Petroleum & Natural Gas.
"In this legacy, we inherited a bankrupt economy. We are also committed to provide power, water and basic healthcare facility to all villages. For this, the government had to take a certain steps to meet the revenue deficit without burdening the consumer", said Mr. Pradhan.
The National Green Tribunal's (NGT) ruling barring vehicles more than 15 years old from plying on Delhi roads is likely to have an impact in curbing automobile pollution and also increase the sale of cars in Delhi, said Mr. R C Bhargava, Chairman, Maruti Suzuki India Limited.
The popular Maruti Suzuki Swift has failed the latest round of Indian crash tests carried out by Global NCAP (New Car Assessment Programme). On this note, Mr. Bhargava said, Maruti doesn't accept NCAP Safety Rating.
He said that if carmakers incorporate such features in even entry-level cars, obviously the price would go up, which would lead consumers to opt for two-wheelers, which would be more unsafe.
The Gujarat plant is expected to be commissioned by the middle of 2017 and we are very much on the targets, said Mr. Bhargava at the event.
Mr Bhargava further said that industry is expecting a friendly budget as the Finance Minister has given many positive indications.
"As china moves from "Make" to "Innovate" India is uniquely positioned to profit from this opportunity. Consistent reform will be unneccessary to ensure that we think and act ie design, innovate and manufacture", Dr. Wilfried Aulbur, Managing Partner Roland Berger and Chairman National Automotive Council, India.
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