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

The Union Budget's raise in the income tax exemption limit to Rs 12 lakh is anticipated to boost demand for two-wheelers and passenger vehicles. This tax relief will provide the Indian middle class with a significant tax benefit, leading to increased discretionary spending. The report forecasts strong growth for these segments, while projecting a slower growth for the truck industry.

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