The finance minister said the impact of demonetisation will not spread into the next fiscal year. The cue may well have come from the car bazaar. Passenger vehicle sales increased 15 per cent from a year earlier in January, the fastest in four months and after a marginal drop in December that was blamed on the post-demonetisation currency crunch.
Manufacturers sold 2.66 lakh cars, utility vehicles and vans in January, according to sales numbers released by automakers and industry estimates. The comparison got a little help from a low base for the year-earlier month, when the industry was reeling under a court-imposed ban on large diesel-powered vehicles in the National Capital Region.
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