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Drumbeat: Ad Buzzaar
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Tuesday, June 2, 1998
AIAM seeks higher outlay for highways
OUR BUREAU
NEW DELHI, June 1: AIAM appreciates the increase in capital outlay for infrastructure projects by 35 per cent to Rs 61,146 crore. But the allocation on roads to NHAI of Rs 500 crore is grossly inadequate even more so when a surcharge of Re 1 per litre of petrol has been imposed.As regards customs duty on IC engines and engine parts raised from 20 to 30 per cent only reconfirms the government's desire to rationalise tariffs by removing aberrations. This will strengthen indigenous manufacturers of engine and engine parts. Excise duty hike on multi-utility vehicles from 25 to 30 per cent is unjustified as this will impact rural transport. The abolition of service tax on transport of goods on roads is welcome. All the initiative -- agriculture, small scale, housing and banking sector is expected to spur economic activity which is likely to have a positive impact on the automobile industry. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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