Maruti marks 20.34% increase in tax payment

The biggest Indian car manufacturer, Maruti Suzuki India Ltd. (MSIL) in running financial year faced a 20.34% increase in the tax payments which amounts to Rs 5,461.3 crore to Govt. of India as against the figure from last financial year.

As per the company's official, MSIL faced an exponential growth in the financial year 2009 to 2010 that tremendously increased the company's total contribution in the National Exchequer. The officials claimed that the gross contribution through taxes and duties stood at Rs 5,461.3 crore in running financial year. Last year, the company marked a figure of Rs 4,538.2 crore thus registering an increase of 20.34 per cent.

Addressing the issue, Mr. S Nakanishi who is the Managing Director of MSI commented that the financial year 2009-2010 was not only a benchmark year for the company but for the Indian Automobile world as a whole. During the statement, Mr. S Nakanishi also elaborated on MSIL's achievement of selling as many as 1 million units of cars in a span of year. This is the first time in India that a company registered such outstanding figures. A sale of 1 million units in just a single year is a great success and the company was able to reach the mark with its best selling small cars, Maruti Alto, Maruti Ritz and Maruti Swift Dzire.

Talking of the company's performance in the FY 2009-10, a sale of Rs 28,958.5 crore was achieved which is a 42.2 per cent jump from that of last year. Moreover profits were also increased by 105% or Rs 2,497.6 crore. The company's response towards the success was wise by increasing its employees' wages by 15.8 per cent which equals to Rs 545.6 crore as against Rs 471.1 crore in 2008-09. The company was thus able to mark great progress in the year which has become historical in the world of Indian automobile world. And now the company is planning to enter the luxury car segment with its all exclusive, Maruti Kizashi.

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