"Government is conscious on the need to respond to the slowdown in the auto sector", she said.
"I have appointed a high-level task force to identify projects for upgrading infrastructure across the country with an investment of Rs 100 lakh crore". Dips and rise in GDP growth do happen, but we are not sitting without responding to boost it.
Speaking to reporters in Chennai to highlight the achievements of the Modi 2.0 administration, Ms Sitharaman mentioned the abrogation of Article 370, 35A and rolling out of GST and Income tax reforms while also responding to a plethora of questions ranging from the slump in the economy to the slowdown in the automobile sector, among other political issues.
With respect to the auto manufacturers' demand to remove automobiles from the highest bracket under the Goods and Services Tax, FM Sitharaman said that the matter will be taken up by the GST Council in its meeting on September 20.
According to news agency ANI, Sitharaman said that the auto industry has suffered due to BS6 and Millennials Mindset.
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The father is living alongside close family members in the main body of a £50m ($62,996,100) mansion on the banks of Lake Geneva. Doctors worked frantically to remove blood clots from his brain, but some were left because they were too deeply embedded.
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Passengers that are affected have been rebooked with other airlines or given alternate dates to fly, the BA spokeswoman said. Following the strikes on September 9 and 10, another day of industrial action is scheduled for September 27.
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Hua said that during her trip last week, Merkel clearly said that she opposes violence and supports "one country, two systems". Billionaire Li Ka Shing said in a video broadcast on local TV that the government should temper justice with mercy.
"As far as commercial vehicles are concerned, GST rate cut would not be enough to revive demand".
According to the fitment committee's estimates, there will be a potential revenue loss of around Rs 50,000 crore annually in case the GST rate in the auto sector is reduced from 28 per cent to 18 per cent. The gross GST collection in August 2019 stood at Rs 98,202 crore, up 4.51 per cent from Rs 93,960 crore in the same month previous year. Some studies show that millennials prefer not to commit to an EMI and instead prefer having Ola or Uber or taking the metro.
According to data released by SIAM, two-wheeler sales - a key barometer of the rural economy - also dropped by 22.24 per cent to 1,514,196 units against 1,947,304 units in the same period past year. "Our full focus is now on how GDP can rise in the next quarter". The best spending (by the government) will be on infrastructure.
Sitharaman said the automobile sector has been affected by several issues, including the move to Bharat Stage-VI emission norms from 2020.
She said the sector has been impacted by a number of factors. A growing economy needs good banks. "The effective date of mergers will be decided by the respective board of directors", said Sitharaman. Addressing the 42nd session of the UNHRC at Geneva, Pakistan on Tuesday said the UN Human Rights Council, the repository of the world's conscience on human rights, must not remain "indifferent" to the situation in Kashmir after India revoked Jammu and Kashmir's special status.