Everyone’s eyes are on the budget which is presented in the parliament by India’s first woman Finance Minister, Nirmala Sitharaman.
Finance Minister Presenting Budget in the parliament
To promote the clean energy high on government agenda, the budget is likely to incentivize manufacturing of Electric Vehicles (EVs).
“With a clear timeline to switch to clean energy vehicles, we are examining tax incentives to encourage players into the EV segment. Besides operations, investment in technology transfers and R&D will also need to be encouraged,” said a government official.
Finance Minister said, “India will become a $3 trillion economy this year. Economic growth is high on the agenda. She says,” Upfront incentive to be offered on purchase of EVs.”
FM speaks of “One Nation, One Grid” for power availability to states at affordable rates. If this is implemented there are a lot of chances for the people to buy EVs and many manufacturers will show interest to bring in high technology EVs in the country such as electric driverless vehicles.
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Finance Minister said, “India will become a $3 trillion economy this year. Economic growth is high on the agenda. She says,” Upfront incentive to be offered on purchase of EVs.”