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    • In Budget 2024, catalysts introduced to augment growth for auto sector

      India's auto sector has received a major boost from the government's recent policies which focus on encouraging local manufacturing and lessening regulatory constraints

    • 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 

    • Customs duty waiver on critical minerals like lithium, cobalt for EV battery

      Industry players reckon that the move by the Finance Minister is pivotal and will substantially lower the production costs of battery cells, directly translating into more affordable electric vehicles (EVs) for consumers

    • Cap good stocks fall as capex allocation remains unchanged

      Stocks such as Titagarh Wagons, Jupiter, BEML, RVNL fell 5%

    • Tata Motors, M&M, Maruti shares decline as Budget 2024 skips EV, hybrid emphasis

      The proponents of EVs argued that shifting focus away from EVs could have possibly slowed India's progress toward its climate goals and stifled its growth.

    • Increased social spends, welfare policies to buoy rural demand, FMCGs to gain

      Rural recovery is anticipated to be driven by higher allocations for social sector schemes in the upcoming Union Budget.

    • Tata Motors, M&M shares close higher on expectations of EV boost

      Budget 2024: Extending production-linked incentive (PLI) schemes and reducing import duties could attract investments by foreign automakers and make India an export hub for advanced automotive technologies,

    • Hotels expect infrastructure status to boost supply, large scale developments

      Extended industry status to the hospitality industry along with enabling provision of affordable-rate infrastructure funds for the private sector would go a long way for large scale developments, hoteliers said.

    • Sugar sector hoping for export relief, MSP revision, and ethanol policy changes in Budget 2024

      DAM Capital warned that any permanent changes to ethanol blending policies or molasses quota obligations might negatively impact sentiment in sugar stocks.

    • Budget 2024: EV Industry counts on incentives, tax rationalisation and funds for infrastructure to reignite volumes

      Industry players reckon that the reduction of custom duties on EV components and encouraging R&D in battery technology will further accelerate local production and create jobs.

    • FAME-III scheme excluded from Budget 2024, set for near-future launch

      However, the government is advancing the FAME-III scheme to promote electric mobility, with implementation likely in the near future, Union minister HD Kumaraswamy announced on July 16, reported PTI

    • Union Budget: Wishlist in mind, Naidu arrives in Delhi to seek 'special help'

      Both JDU and TDP have reportedly sought adequate funds to be allocated to Andhra Pradesh and Bihar for key projects and schemes.

    • Budget 2024: Auto industry expects continued capex, thrust on rural economy, FAME 3 subsidy among others

      The industry has also sought sops to promote electric vehicles and suggested the government bring in additional incentives for scrapping of vehicles in the upcoming budget.

    • Budget 2024: Cement industry eyes further step up in infra spend

      In the Interim Budget 2024-25, the Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, announced an 11.1 percent increase in the capital expenditure outlay for infrastructure.

    • Interim Budget 2024: What auto sector expects from FM Sitharaman?

      Shashank Srivastava, Senior Executive Director, Maruti Suzuki, said the auto industry’s performance has a “close correlation” with the country’s overall economic growth

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