BUSINESS
Budget strives to rev up EV ecosystem, but some key measures missing
The Budgetary measures will help reduce India’s dependence on imports and drive local manufacturing of batteries, thus making EVs more affordable
BUSINESS
What Union Budget 2025 can do for the auto sector
The Budget must consider lowering tax rates on other clean technologies, like hybrid vehicles which are taxed at 28 percent. Hybrids could act as a bridge between ICE and EV adoption
BUSINESS
No major direct sops for auto sector in Budget 2024
However, Budget 2024 did continue allocations for the FAME and PLI schemes and lower duties on critical minerals can help lower cost of indigenously-made batteries for the EV market
BUSINESS
E-mobility gets higher allocations in Budget, but no tax sops to encourage demand
The government has re-emphasized its commitment towards e-mobility, and has clearly articulated that it will be looking at supporting the manufacturing and charging infrastructure Shruti Saboo
BUSINESS
Union Budget 2024: Govt support key to India’s electrification story to continue
As per International Energy Agency (IEA), PLI scheme for Auto has attracted investments worth Rs 677 billion which will be spent over the next 5 years
BUSINESS
Decoding PLI: Turbo-charging green mobility and self-reliance in auto sector
Ind-Ra study finds the PLI scheme for the auto sector adequate to enhance the cost-competitiveness of domestic players, provided they achieve scale and discover right price points
