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EXCISE CUT FAILS TO BOOST CAR SALES (withdrawal of discounts cited to be the reason for low sales).
(From India Business Insight)
The Ministry of Finance, Government of India, had announced 16 percent reduction in excise duty on small cars in the Government of India budget 2006-2007.
The move failed to boost car sales during Mar 2006. Though the retail prices of small cars did reduce, the withdrawal of discounts in Mar 2006 by the …
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