The department of heavy industries (DHI) has opposed the proposed duty hike on diesel vehicles by the government. The Ministry has said that they will be submitting a report to the Finance Ministry in this regard next week. It is to be mentioned here that the finance ministry has been mulling over the option of hiking the excise duty on the diesel run vehicles in the Indian market, in a bid to discourage the consumption of subsidized fuel by the personal vehicles.
Speaking to the reporters on Friday, Mr. Ambuj Sharma, Joint Secretary in the DHI, said, "We will again press for not levying the taxes. We will be submitting a report to the Finance Ministry on Monday to oppose the additional levy on diesel vehicles." He was speaking to the reporters after attending a jointly organized function by Society of Indian Automobile Manufacturers (SIAM) and Automotive Component Manufacturers Association of India (ACMA).
While further elaborating the impact of duty hike on diesel vehicle, Mr. Sharma added, "We, in the Department, have backed the industry demand and we are convinced that any imposition on any particular segment of vehicles will depress the overall market as it stands a little bit depressed and not in the same trajectory as it was in the past year."
