Auto crisis due to overproduction by players, GST relief not required: Rajiv Bajaj

Businesstoday reports:
Bajaj Auto, India's third largest motorcycle maker, reported an 11 per cent fall in total sales in August to 3,90,026 units Contrary to the increasing clamour for a GST rate cut from the automobile makers, Bajaj Auto's Managing Director Rajiv Bajaj believes the crisis in the sector is of its own making and a tax rate reduction is not required. This statement comes just ahead of the GST Council meeting in Goa next week, while the $119 billion industry accounting for over 7 per cent of the country's GDP is in the midst of an unprecedented slowdown.
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