Commenting on the announcements, Ashish Harsharaj Kale, President FADA stated that all points of concerns and Suggestions have been listened to seriously and most have been actioned by the FM and FADA appreciates all the initiatives.The liquidity easing and confidence building in banking Industry which was already actioned followed up by the slew of announcements of Increase Depreciation Rate till March 2020, deferment of one time registration fees which would have further burdened the affordability of Automobiles, coupled with soon to be announced scrappage policy will definitely boost demand.
The release of Rs 70,000 crore capital to PSB's immediately and another 5 lakh crores in a phased manner, linking retail loans to repo rate, providing more credit to NBFC's for auto and housing loans are all huge demand generating steps. The announcement of BS4 vehicles being operational for the entire registration period is a very important announcement and will clear the confusion which was prevalent in many customers' minds about the current BS4 petrol and diesel vehicles. FADA is quite confident that these measures will definitely uplift customer sentiment for the upcoming festive season.
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