Income tax cuts in union budget to boost 2-wheeler and passenger vehicle sales: Jefferies

New Delhi [India], February 4 (ANI): Union Budget raising the income tax exemption limit to Rs 12 lakh is expected to give a big boost to the demand of 2-wheelers (2Ws) and passenger vehicles (PVs) according to a report by the global brokerage firm Jefferies.

The report highlighted that the proposed tax relief will provide the Indian middle class with a total tax benefit of approximately Rs 1 lakh crore, which could lead