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Hero Cycles seeks discount in GST on bicycles to 5 p.c, from 12 p.c

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NEW DELHI: Hero Cycles on Monday sought discount in GST on bicycles to five per cent from the present fee of 12 per cent to make them inexpensive for all sections of society. The firm additionally requested the federal government to give attention to growing street infrastructure which is amenable to cyclists.

“COVID-19 has enabled a behavioral shift amongst city populations and helped enhance the tradition of biking,” Hero Cycles Chairman and Managing Director Pankaj M Munjal mentioned in an announcement.

To keep secure within the pandemic and keep away from gyms and public transport, an growing variety of folks have adopted biking as a health routine or as a mode of transport for brief and medium distances, he added.

If this behavioral shift occurs on a mass degree, it is going to result in exceptional enhancements in air high quality as additionally in folks’s well being, Munjal famous.

“The government must consolidate this shift by launching a series of supportive policy measures. Slashing GST on bicycles from current 12 per cent to 5 per cent will make bicycles more affordable for different sections of people including premium as well as mass category bicycles and further incentivise their usage,” he mentioned.

Besides, Munjal sought extension of subsidy advantages underneath FAME-II to electrical cycles as effectively to assist producers decrease the price for customers.

“Dedicated bicycling lanes and bicycle-friendly road infrastructure need to be developed in all town and cities in a well thought-out and calibrated way,” he added.

Hero Cycles is a frontrunner in each normal and premium section bicycles in India, with an total market share of practically 43 per cent.

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