Union Budget 2024 : Expectations to Charge up and Propel EV Sector
India s electric vehicles industry looks forward to a significant increase in subsidies and tax benefits, according to the latest government announcement in the country. However, the industry is hopeful that the government will extend the subsidy to electric two-wheelers, as well as the faster Adoption and Manufacturing of Electric Vehicles (FAME) schemes.. () The BBC explains how it is expected to boost the adoption of electric vehicle (EVs) in India, but experts are warning that it will be able to drive transformative changes in its economy, in which renewable energy needs to be expanded, to help boost growth in electric cars, electric car makers and other industries. The industry hopes it could become the next phase of the economic recovery of fuel and carbon emissions across the world - but it has already been forecast for the first time in more than two decades, with expectations that this will encourage businesses to take steps to tackle climate-resilient society, writes the BBC News Marathi on their efforts to revive the energy industry in this year. Here, we speak to business leaders in Delhi, Delhi and Mumbai, on the way they prepare for an increasing number of new proposals to expand the subsidis, tax benefits and financing policies to support the sector in next year, and the UK government is considering further funding for these measures in an attempt to accelerate the commitment to reduce carbon and greenhouse gases.
Source: siliconindia.comPublished on 2024-01-31
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