Will Budget Provide additional investment allowance to Auto Components industry?

Auto components industry in its recommendations submitted to the Ministry of Finance and the nodal ministry for automotive industry, the Ministry of Heavy Industries, has sought for certain measures from the upcoming budget. This Recommendation includes Reintroduction of additional investment allowance provision, Increase from 15% to 25% on plant and machinery in the auto component industry, Rationalizing GST Rates, Focus on EVs and their components, Clarification on tax deductions for business benefits and perquisites under Section 194R and Suggestion for an amnesty scheme to resolve legacy disputes under Customs laws. Which auto ancillary stocks are going to give you good returns in FY25? Watch this video to know about the