Union Budget 2023: EV buyers can get great news, benefits will also be big
Customers can get the direct benefit of fame subsidy available on EV.
At the same time, the automobile sector has also been continuously demanding this.
The government can also reduce the rate of GST on auto parts.
New Delhi. Union Finance Minister Nirmala Sitharaman is going to present the budget on 1 February. In such a situation, the entire hope of the automobile sector rests on any big announcement regarding the electric vehicle. Its direct benefit will also be for those who are planning to buy an electric vehicle in the coming time. In fact, the automobile sector has been continuously demanding to increase the FAME 2 subsidy on electric vehicles. Along with this, there is also a demand to give its benefit directly to the customer. In such a situation, it is now believed that the government’s Fame 2 subsidy can be increased.
During the budget, the government can increase the FAME subsidy for two more years. The FAME subsidy was implemented by the government in 2019 and its term is now ending on 31 March 2023. Now it is believed that the government can extend this subsidy till 2025. Regarding this, there is a demand from automobile manufacturers as well as common people that this subsidy should be increased.
Demand to reduce GST also
On the other hand, according to auto manufacturers, the GST on the parts used in EV manufacturing ranges from 18 to 28 percent, in which case the cost of cars increases significantly. According to the auto industry, GST should be applied uniformly on spare parts and its rate should be reduced. In such a situation, there will be less burden on the customer and the sale of electric vehicles will increase.
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what the government wants
The government has been promoting electric vehicles for a long time. Due to the reduction in pollution due to electric vehicles, fuel consumption will be less. However, due to the high cost of electric vehicles, still not everyone wants to take them. For this, the government is now trying its best to make them pocket friendly. Due to this, it is believed that the government may consider increasing the time limit and amount of fame subsidy. Along with this, GST on auto parts can also be reduced. Union Minister Nitin Gadkari has also continuously given his opinion regarding electric vehicles and vehicles running on flex fuel or alternate fuel and he has also been continuously encouraging them. Work is also being done on making their charging stations across the country. In view of this, it is being speculated that the government can make a big announcement regarding electric vehicles.
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Tags: auto news, budget, Bike News, electric vehicle, electric vehicles
FIRST PUBLISHED : January 31, 2023, 18:09 IST