Nirmala Sithraman Finance has recently announced his union budget. There were many highlights of reforms that could support various dynamics.
According to the Minister of Finance, Citalaman, MSME’s investment and export will be a powerful engine that drives the nation for higher levels of growth and development driven by fuel of government reform. It will begin to promote better growth in the automotive industry plan, such as export promotion missions and EV manufacturing reform.
Official statement
According to a statement from the Minister of Finance, Citalaman, a proposal to add 35 additional capital goods and 28 additional capital property for the production of EV batteries and mobile phone battery production will begin.
“I propose 35 additional capital goods to EV battery production and 28 additional capital to the mobile phone battery production. According to Citaraman, domestic lithium -ion batteries in Japan. Will be held.
Beyond the above additions, the change has been turned into a government approach to promote simple EV vehicles and EV components. The exemption of BCDs for several capital goods required to manufacture the battery of electric vehicles is also deleted.
Export promotional missions, which are complemented by simple production that enables simple production from the government, will acquire worldwide abilities in the production of EV vehicles and EV components.
Increase in disposable income-
The official statement “I am glad to announce that there is no income tax to be paid up to 12 rupees now,” said Citaraman that it was the reason for the joy of all middle class salaries. 。
The fact that tax slabs were shifted to provide more disposable income means that the sale of EV cars could recover in the near future. The new reform introduces the government that is ready to promote the production of Indian EV batteries, vehicles and components.
Plan to become a production hub
With such a subsidized structure of EV Manufacturing India, we aim to introduce global manufacturers in India, manufacture and sell around the world. Manufacturers such as Suzuki, Hyundai, and Bajaji are already pioneering in the same production method that products produced in India are sold around the world. A welcome step to support the country to improve the status of EV technology as a global manufacturer.
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Written
Shrian Sugagg
February 1, 2025 12:54
