00:00On February 1, 2025, Finance Minister Nirmala Sitharaman is going to present the Union Budget of the country.
00:09Meanwhile, in India, the electric vehicle, i.e. EV sector, is growing rapidly.
00:13EV industry is being given special attention to boost green energy and environmental protection in the country.
00:20In this regard, the automobile industry, especially the EV segment, has high expectations from the upcoming Union Budget 2025.
00:28The companies in this sector have put forward their suggestions and demands to the government.
00:32So, let us explain those demands to you in detail in this video.
00:37The main demand of EV companies is that the rates of GST on EV battery should be reduced by 18% to 5%.
00:45This will reduce the cost of EV and customers will get more budget options.
00:52Apart from this, interest rates on EV loans have also been asked to be reduced so that EV buyers can get financial help.
01:00In India, a strong charging infrastructure is necessary for the use of EV at a high level.
01:06Oben Electric and other companies have requested the government to take steps in this direction.
01:12A special fund can be announced for the construction and operation of charging stations in the budget.
01:19Battery manufacturing is an important part of the EV sector.
01:22PLI schemes are being asked to be implemented to boost domestic production.
01:28Companies like Maxvolt Energy want to get extra funding and tax relief for battery production and R&D.
01:37On the other hand, under the FAME 2 scheme, EV is subsidized for purchase.
01:42It is expected to be expanded in the budget and new targets will be set.
01:46This will boost the sale of private and commercial EVs.
01:50CREDIFIN Ltd's CEO Shalya Gupta believes that the government can issue a green bond,
01:56which will be used to develop EV infrastructure.
02:01Along with this, EV production can get a new speed with a long-term subsidy.
02:06The government needs to take strong steps to make the EV sector self-reliant and sustainable.
02:13EV companies have asked for incentives to increase investment, subsidies in R&D and EV manufacturing plants.
02:22In addition, it is also necessary to make the GST structure easy and to give tax benefits on EV loans.
02:30There are many expectations and demands of the EV sector in the Union Budget on 1 February,
02:36which are being fulfilled.
02:40What is your opinion on this news?
02:42Give us your opinion in the comment box and keep watching GoodReturns for such updates.
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02:59Thank you for watching!
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