Budget 2025 Expectations | Hoping for continued push towards BEV adoption, says Mercedes-Benz India MD & CEO

The automotive sector has pinned high hopes on the Union Budget FY 2025-26 documents and is keeping its fingers crossed regarding their expectations from the government's most important financial document of the year.

Finance Minister Nirmala Sitharaman will present the 8th consecutive Union Budget on February 1, 2025. Reports suggest that the government is mulling over cutting income tax for those who are earning up to Rs 15 lakh a year in February's budget, in turn providing relief to the middle class.

Various experts from different sectors have put forth their expectations from the Budget for their industry.

Speaking on behalf of the automotive sector, Santosh Iyer, Managing Director and CEO of Mercedes-Benz India, said, "We hope for forward-looking measures from the budget that fosters sustainable economic growth and enhance India’s global competitiveness."

"Continued push for BEV adoption by pursuing the existing incentives, infrastructure development and R&D initiatives will be crucial in accelerating India’s transition to green mobility, positioning us as a key player in the global BEV value chain," he added.

"Reducing trade barriers and simplifying regulatory frameworks can further integrate India into global supply chain, while any additional measures that lower the cost of doing business, can result in attracting new investments and boost advent of new technologies and innovation," he said.

"By prioritizing these areas, the government can create a resilient, future-ready economy, bolstering India’s firm standing on the global stage"

Union Budget 2025 | Nirmala Sitharaman, who continues to be Finance Minister, will present her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year. 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.