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Budget 2023: Here's what EV ecosystem wants from FM Nirmala Sitharaman

The EV sector is looking forward to a slew of sops, including the extension of the FAME-II scheme beyond 2024, and a reduction in GST.

January 28, 2023 / 06:41 PM IST
Electric two-wheeler adoption is growing at a fast pace, and India is poised to be one of the world's largest two-wheeler markets. (Representative image)

Electric two-wheeler adoption is growing at a fast pace, and India is poised to be one of the world's largest two-wheeler markets. (Representative image)

India’s growing electric vehicle (EV) industry is looking forward to the Budget 2023 which will be presented by Union Finance Minister Nirmala Sitharaman on 1 February 2023.

The EV sector (including ancillaries) are looking forward to a slew of sops, including the extension of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II) scheme beyond 2024, and a reduction of GST.

Also Read | Budget 2023: This income tax rebate for EV adoption can get an extension

Tax sops