Budget Boost: India’s Auto Industry to Become Global Leader, Driven by Green Mobility
Today Budget 2025 was presented in Parliament by Finance Minister Nirmala Sitharaman. In which the automobile sector has received many big gifts, due to which this sector will move towards becoming a global power.
Let us inform you that this time special focus has been given on sustainable mobility in the budget, along with many provisions have been made to promote electric vehicles and vehicles running on hydrogen fuel.
The 18% GST rate on electric vehicles has been reduced to 12%. The Production Linked Incentive (PLI) scheme has been expanded for the manufacturing of components and batteries for electric vehicles.
According to the information, Rs 500 crore has been allocated for the development and research of vehicles running on hydrogen fuel.
Along with this, many new policies will also be brought to further strengthen the charging infrastructure. Not only this, new schemes have also been announced for scrapping old vehicles.
The automobile sector is going to benefit a lot after this budget. If the prices of electric vehicles come down then its sales will increase. This will reduce pollution in the country and the environment will benefit.