An EV charging station. (Image for representation)
Credit: iStock Photo
Finance Minister Nirmala Sitharaman tabled the much anticipated Union Budget for FY 2025-26 on February 1, which also marked a record 8th Budget presentation for the 65-year-old. In a major relief to the middle class, Sitharaman announced that there would not be any tax liability on income upto Rs 12 lakh for salaried persons under the new tax regime and raised the basic exemption from Rs 2.5 lakh to Rs 4 lakh.
Speaking on this front, Pratik Kamdar, CEO & co-founder of Neuron Energy, said, "The Union Budget 2025's announcements for the EV and auto sectors centre on raising the sector's value and demand, which is a positive move. India's effort to produce clean tech energy will be accelerated as a result. A significant boost to the EV battery industry; the National Manufacturing Mission's coverage of MSME represents a step forward in bolstering domestic EV battery production."
"The FM's plan to exclude lithium-ion batteries from basic customs duty will even increase the cost-effectiveness and flexibility of the supply chain. More EV adoption will also be supported by stronger energy infrastructure, particularly for EV charging stations, which will be fuelled by power sector reforms and state incentives."
"Viksit Bharat's focus on nuclear energy and the exemption of 35 capital goods for the production of EV batteries show a strategic vision for a sustainable future. It will boost the industry further and grow the battery and EV auto industries. Together, these programs create an atmosphere that is conducive to clean-tech innovation, job growth, and a more robust EV ecosystem."
Union Budget 2025 | Nirmala Sitharaman, as Finance Minister, presented her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', the Modi govt gave income tax relief for those making up to Rs 12 lakh per year in salaried income. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.