Automobile Budget 2023: The Finance Minister has laid a lot of emphasis on electric vehicle, green energy and scrap vehicle policy in the Union Budget 2023. See what relief the government has given to Indian Auto in the budget presented today.
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Budget 2023 Highlights: Finance Minister presenting the budget in Parliament nirmala sitharaman Has made many announcements related to the automobile industry. In this, the removal of custom duty on the import of goods used in making lithium-ion batteries is being considered as a big decision. This will reduce the cost of electric vehicles and people will get the benefit of buying cheap battery operated vehicles. A fund of Rs 35,000 crore has also come out of Nirmala’s box for green energy. Many such announcements have been made in the Union Budget, due to which India’s auto sector will get a boost.
To give relief to the auto sector, the government has brought a scrap policy to eliminate old vehicles. The Finance Minister has announced to increase the fund to promote this policy. Apart from this, the government has also opened the treasury for green hydrogen. At the same time, the auto world is also happy about the income tax relief for those earning up to seven lakhs annually.
today’s big news
Cheaper Electric Vehicles: Presenting the budget, the Finance Minister has announced the removal of custom duty on importing goods for lithium-ion battery manufacturing. However, the benefit of this exemption will be available only on electric vehicles made in India. The Finance Minister further said that the government will continue to give more concessions on Lithium-ion battery cells for the next one year.
Vehicle Scrappage Policy: A big announcement has been made in the budget even on scrapping the old vehicle. The Finance Minister said that the fund for scrapping the old vehicle will be increased by the Central Government. Vehicle owners get certificates through vehicle scrap policy. After this, you will also get a discount on buying a new vehicle. The Finance Minister further said that the Central Government will also support the State Governments in scrapping old vehicles and ambulances.
Green Energy: The government is very conscious about the environment. Its hallmark has been seen in the budget 2023. The Finance Minister said that one of the seven priorities of the government is green energy. For this, a provision of Rs 35,000 crore has been made in the budget. This fund will be used to promote green mobility in India.
Source: www.tv9hindi.com”