Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Politics News / Amid economic slowdown, Anurag Thakur faces embarrassment at auto event
  • Politics

    Amid economic slowdown, Anurag Thakur faces embarrassment at auto event

    Siddhant Pandey
    Written by
    Siddhant Pandey
    Twitter
    Last updated on Sep 06, 2019, 07:48 pm
    Amid economic slowdown, Anurag Thakur faces embarrassment at auto event
  • On Friday, Minister of State for Finance Anurag Thakur addressed the slowdown in the auto industry at the Automotive Component Manufacturers Association of India (ACMA) annual summit in New Delhi.

    However, as Thakur asked auto industry players why sales hadn't picked up despite the government's measures, he was heckled by a man who called it the "effect of demonetization."

    Here's what went down.

  • In this article
    Why aren't we seeing same kind of demand, asked Thakur ACMA participant responded to Thakur's question; blamed demonetization Minister Arjun Ram Meghwal also addressed Singh's remarks later ACMA participants later congratulated Singh for speaking up Auto industry seeks uniform 18% GST
  • Quote

    Why aren't we seeing same kind of demand, asked Thakur

    Why aren't we seeing same kind of demand, asked Thakur
  • Speaking at the event, Thakur said, "If there is a reduction in interest rate after RBI's announcement, you [the industry] are also giving discounts, many other initiatives taken by the central government. Why we are not still seeing the same kind of demand?"

    Thakur then asked, "What are the main reasons... there could be many. Or is it just cyclical?"

  • Details

    ACMA participant responded to Thakur's question; blamed demonetization

    ACMA participant responded to Thakur's question; blamed demonetization
  • Thakur was then interjected by Jasbir Singh of GS Auto Ludhiana.

    Singh promptly said, "This is the delayed effect of demonetization. People don't have money!"

    Unfazed by the heckle, Thakur responded in a calm fashion and said, "Thank you."

    He added, "If that is the delayed effect (of demonetization), how do you move ahead from here? How do you go forward?"

  • Other developments

    Minister Arjun Ram Meghwal also addressed Singh's remarks later

    Minister Arjun Ram Meghwal also addressed Singh's remarks later
  • Later, when Minister of State for Heavy Industries and Public Enterprises Arjun Ram Meghwal delivered his speech, he, too, addressed Singh's pointed remarks.

    Meghwal said that demonetization and the Goods and Services Tax (GST) were economic reforms required to make India a $5 trillion economy.

    Meghwal said, "This made India a USD 3-trillion economy. How much cash can you keep, sardarji?"

  • Information

    ACMA participants later congratulated Singh for speaking up

  • Meghwal said, "This country has to develop, and you're trying to run a parallel economy. A parallel economy cannot run under the Modi government." However, according to Deccan Herald, many participants at the event later congratulated Singh for speaking up for the auto industry.

  • Auto industry

    Auto industry seeks uniform 18% GST

    Auto industry seeks uniform 18% GST
  • Currently, the auto industry is dealing with a slowdown attributed to high GST rates, farm distress, stagnant wages and liquidity constraints.

    Reportedly, the auto components industry, which employs 50 lakh people and contributes 2.3% GDP, has sought a uniform 18% GST to help companies with their working capital borrowings.

    This could further be used to invest in long-term assets.

  • Anurag Thakur
  • Finance Ministry
  • New Delhi
  • RBI
  • GST
  •  
Latest News
  • Janhvi Kapoor shares handwritten note on mom Sridevi's death anniversary
    Janhvi Kapoor shares handwritten note on mom Sridevi's death anniversary
    Entertainment
  • India vs England, Third Test: England lose four wickets
    India vs England, Third Test: England lose four wickets
    Sports
  • Unnao survivor confirms poisoning, denies sexual assault in statement: Police
    Unnao survivor confirms poisoning, denies sexual assault in statement: Police
    India
  • Free COVID-19 vaccine shots for senior citizens from March 1
    Free COVID-19 vaccine shots for senior citizens from March 1
    India
  • Indian Super League 2020-21: Key details about the playoffs
    Indian Super League 2020-21: Key details about the playoffs
    Sports
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Politics news?

Subscribe to stay updated.

Politics Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Samsung Virat Kohli Rohit Sharma
Cricket News Facebook YouTube Hollywood News WhatsApp Netflix Bollywood News ISRO Spotify Yoga
Honda Batman Football News BMW Vaccine Reliance Jio OPPO Food News, Healthy Recipes Royal Challengers Bangalore Toyota
Fashion Tips Ishant Sharma Farmers Protest Mercedes Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Robert Lewandowski
Marvel Comics Avengers Neha Kakkar Mena Massoud
About Us Privacy Policy Terms & Conditions Contact Us News News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021