7th Pay commission: carmakers offer special discount to government employees
Maruti Suzuki (MSIL ) is offering discounts ranging from 5% - 15% to all government employees on its four brands namely Alto, Celerio, Swift and Dzire.
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Maruti reports unexpected decline in Q4 profit, revenue holds up street estimates; stock down over 1% Even as Central Government and pensioners are eagerly waiting for their revised pay under the 7th Pay Commission (7CPC), carmakers are not leaving any stone unturned to improve their sales by offering special discounts.
On June 29, Ministry of Finance cleared 7th Pay Commission recommendations for its 47 lakh central government employees and 52 lakh pensioners. The central government employees and workers will get at least 23.5% salary hike.
These analyst expects sectors such as automobile, fast moving consumer goods (FMCG), Realty and consumer companies are likely to benefit from this Pay commission.
Maruti Suzuki (MSIL ) is offering discounts ranging from 5% - 15% to all government employees on its four brands namely Alto, Celerio, Swift and Dzire.
Hyundai too is offering discounts of more than 8% - 17%.
Apart from car makers, two-wheeler companies are also offering discounts ranging between Rs 1500 - Rs 10,000.
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