Praful Patel to meet Chidambaram;suggest sops for auto sector
NEW DELHI: Noting auto industry is riding through a rough patch, Heavy Industries and Public Enterprises Minister, Praful Patel on Thursday said he will meet Finance Minister P Chidambaram in the next two days and suggest a stimulus for the sector to revive growth.
"The Indian automobile industry has slowed down dramatically which is a cause of worry," he told reporters on the sidelines of a Ficci function here.
"So, we need to certainly see if there is any way to give impetus to the industry. I will be meeting the Finance Minister in a day or two and certainly put forward our views for his consideration," he said.
Passenger car sales in the country declined by 12.5 per cent to 1,41,083 units in December last year, the steepest fall in the last four months, due to high interest rates, rising fuel prices and overall slowdown in economic growth.