Rajiv Bajaj: Rajiv Bajaj attacks high tax system, seeks relief from government

Tax on Auto Industry: Bajaj Auto MD Rajiv Bajaj has opposed the high tax system imposed on the auto industry in the country. He has said that on one hand the country’s emission standards are being increased. On the other hand, a heavy 28 percent tax is imposed on the auto industry. In ASEAN countries, the GST rate on auto industry is 8 to 14 percent. The auto industry has to pay the highest tax in India. He has demanded the government to reduce the tax on vehicles from 28 percent to 12 or 18 percent.

Emission standards are increasing but taxes are not decreasing

Rajiv Bajaj said that motorcycles have become an everyday necessity of the people. We have no problem with the government increasing the emission standards. But, tax on bikes should be reduced. If the tax on bikes becomes 12 or 18 percent, it will be very convenient for the auto industry. He has blamed excessive regulations and high tax system for the rising prices of bikes. Bajaj Auto MD said that the two-wheeler industry has still not reached its pre-Covid 19 situation.

Rajiv Bajaj attended the launch event of Pulsar 400

Actually, Rajiv Bajaj had attended the launch event of the company’s new bike Pulsar 400. The price of this new bike of Pulsar range has been kept at Rs 1.85 lakh. Pulsar NS400Z will compete directly with Dominar 400, KTM 390 Duke and Triumph Speed ​​400. Bajaj Auto has sold approximately 1.8 crore Pulsars so far. This bike, which was launched in the year 2001, has so far earned Rs 10 thousand crores for the company.

Bajaj Auto makes huge profit in March quarter

Bajaj Auto has made a net profit of Rs 1,936 crore in the March quarter. There has been an increase of about 35 percent on annual basis. The company had a net profit of Rs 1,433 crore in the same quarter of FY 23. Company revenue has also increased by 29 percent to Rs 11,485 crore in the January-March quarter. This figure was Rs 8,905 crore in the same quarter of FY 23.

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