In order to revive demand of bicycles in rural market, Leading bicycle maker Hero Cycles on Monday urged the government to reduce GST on bicycles from 12 per cent to 5 per cent ahead of the Union Budget. “The budget must focus on reviving slumping demand across the country through a series of measures including re-adjusting GST slabs to put more disposable income into the hands of people,” Hero Motors Company (HMC) Chairman Pankaj M Munjal said in a statement. He has further said that there is a need to promote electric bicycles also since electric cars address the problem of pollution, they do not address the concern of traffic congestion in Indian cities. Also, providing subsidy benefits of FAME-II to electric bicycles will help manufacturers offer more affordable products to consumers, Munjal noted.
