Auto sales to boom till FY29 backed by GST 2.0, tax cuts
India's auto sector is set for strong growth till FY29, driven by GST 2.0 reforms, income tax cuts, and the upcoming 8th Pay Commission, according to Nuvama. Passenger vehicle sales have already crossed pre-pandemic peaks, with two-wheelers and tractors also on track to hit new highs. Reduced GST rates across categories are expected to sustain demand momentum.