Auto sector Budget 2020

The Narendra Modi government wants to hasten the adoption of green vehicles. Its think tank NITI Aayog has put forward a plan to shift to e-mobility for two-wheelers (below 150 cc) and three wheelers by 2025.With the government committed to bringing a revolution in the electric vehicles (EV) segment in the next few years, industry expectations from the Union Budget 2019-20 run high. Among the key demands are priority lending by public sector banks for purchase of EVs and a hike in government subsidy to push sales. The other proposal for the Budget is higher subsidy for people buying electric vehicles and incentives to corporates for bulk-buying of green vehicles.

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