Well it been raining price cuts and cost reductions from the government. Just after the announcement of oil price cuts, the government has yet again announced another price cut in the form of VAT reduction.
The government has reduced the 4 % Cen VAT for automobiles and electronic items. This should result in significantly cheaper products to the end customers. The price cut is not forced to be passed on to the customer from the manufacturer but many manufacturers are expected to lower their prices with economy lagging beind the production capacity.
Several car manufacturers have already announced about their reduction in car prices and this amounts to about Rs.8000 to Rs.15000 cut in the total cost of the vehicle. Similarly some electronic goods manufacturer like Samsung has already announced price reduction for thier LCDs and plasma televisions.
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