Economic growth boosts car sales by 32% in India
Economic growth boosts car sales by 32 per cent in India. According to the statement by Society of Indian Automobile Manufacturers in New Delhi, the local sales were up by 32 per cent with the sale of 1,45,905 units.
THE FISCAL aid by the government boosted demand as car sales soared, helped by cheaper loans. According to the statement by Society of Indian Automobile Manufacturers in New Delhi, the local sales were up by 32 per cent with the sale of 1,45,905 units.
However, there are speculations that demand will wear off in India when the government will tighten its monetary policies. The gross domestic product rate of the country will rise for the first time since 2007, expanding 7.2 per cent in the year ending March, according to the government.
The governor of Reserve Bank of India Duvvuri Subbarao raised the cash reserves by increasing deposits proportion to 5.75 per cent from five per cent earlier. RBI has maintained its interest rates at very low levels since April 2009.
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