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Budget 2024 for Auto Sector
What are the top expectations for the Auto Sector in the upcoming Interim Budget 2024-2025? Click on to financialexpress.com and get a comprehensive idea on our dedicated page Who Gets What. Navigate through a handy ready reckoner, meticulously crafted to provide a glance at previous Budgets declarations for the sector.
Budget 2024 Announcements for Auto Sector
Auto Sector
- EV ecosystem will be expanded and strengthened by expanding manufacturing and charging infrastructure
- Support for electric buses via price safety mechanism
- Charging of electric vehicles offers entrepreneurship opportunities for vendors for supply and installation employment opportunities for youth with technical skills in manufacturing, installation and maintenance.
Who Got What
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Budget Announcements for Auto Sector in FY2024
Auto Sector
- The government’s focuses on green and clean mobility, allocated of funds for replacing government vehicles.
- Customs duty exemption extended to import of capital goods and machinery required for manufacture of lithium-ion cells for batteries used in electric vehicles.
Budget Announcements for Auto Sector in FY2023
Auto Sector
- An allocation of INR 2.73 lakh crore has been earmarked to develop and enhance the rural vehicle sector.
Budget Announcements for Auto Sector in FY2022
Auto Sector
- Introduction of a voluntary vehicle scrapping policy to phase out old and unfit vehicles.
- Utilization of new technologies like MetroLite and MetroNeo for the development of metro rail systems in Tier-1 and Tier-2 cities.
- Launch of a scheme facilitating the private sector to finance, acquire, operate, and maintain buses in public transport services.
Budget Announcements for Auto Sector in FY2021
Auto Sector
- Proposed allocation of Rs 1.70 lakh crore for transport infrastructure in 2020-21.
Budget Announcements for Auto Sector in FY2020
Auto Sector
- Enhanced Brahmaputra's navigation capacity facilitating container cargo movement was stated.
- Notified a transportation revolution towards pollution-free India through Electric Vehicles.
- Emphasizing renewable energy to move towards a pollution-free environment.
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