2023-09-12 06:58:24
India is considering proposing the imposition of an additional 10% tax on diesel-powered vehicles to reduce pollution caused by these vehicles in the world’s third-largest auto market.
Road Transport Minister Nitin Gadkari on Tuesday said he would make the proposal to the Finance Minister later today.
“Say goodbye to diesel soon, otherwise we will raise taxes so much that it will be difficult for you to sell these vehicles,” Gadkari told a convention in New Delhi.
Shares of Indian automakers Tata Motors, Mahindra and Mahindra and Ashok Leyland fell 2.5% to 4% following the minister’s comments. (Reporting by Aditi Shah; Editing by Tanvi Mehta; Editing by Christian Schmollinger)
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