However, the final decision to reduce the rate can only be taken by the Gst Council.

“I am confident that the Finance Ministry with discussion with the state governments and if it is possible, they are very positive, they will take a decision (sic.),” the Minister said at the launch event of BSVI variant of Honda Motorcycle and Scooter India”s Activa.

Lately, the Indian automobile industry, which has been heavily dented by the consumption slowdown has been demanding a Rate Reduction from 28 to 18 per cent.

On automobile scrapping, the Minister said that the government will support the industry and non-industry players to set up scrap yards and bring in new technologies in this arena.

In addition, he told the gathering at the launch event that the Petroleum Ministry is ready to give its consent for setting up of Ethanol fuel pumps in the country.

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