Finance Minister Nirmala Sitharaman has presented the full budget for the Modi government's third term in Parliament. From the general public to corporate companies, all eyes were on the budget. This time the government has given a big gift to the auto sector in the budget, which will also benefit the common people.
Finance Minister Nirmala Sitharaman presented her eighth budget, this time the government has given a big gift to the people in the budget, in which everything from electric vehicles to mobile batteries has been made cheaper.
The government is taking all possible steps to promote the EV sector and this has been clearly seen in this year's budget. The announcement made in the budget makes it clear that the government's focus will be on the EV sector in the financial year 2025-2026.
This announcement by the government has given a big relief to electric vehicle buyers and with this, the sluggish auto sector will also get a boost. The direct benefit of electric vehicles becoming cheaper will be those who are going to buy a new electric vehicle, while the EV sales of companies selling electric vehicles are expected to increase.
This time the budget is going to give a big relief to the common man, because not only electric vehicles have become cheaper to buy, The government has also reduced the prices of smart TVs, mobile phones, and lithium batteries.
The government will also reduce the tax on lithium-ion batteries, due to which lithium-ion batteries will become cheaper and its direct impact will also be seen on the price of electric vehicles.
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The government has taken important steps to boost the sluggish pace of the auto sector, now it will be interesting to see how much the sales of companies selling electric vehicles will increase in the financial year 2025-2026.
To promote Make in India in EV production, custom duty has been removed on raw materials and important minerals required for electric vehicles. Duty-free import facility is provided for electric motors, controllers and other EV components.
