Auto Sector 2021

Budget 2021: Finance Minister Nirmala Sitharaman announces new voluntary vehicle scrappage policy

As per this policy, personal vehicles over 20 years old and commercial vehicles over 15 years old would undergo automated fitness tests.

Full text: FM Nirmala Sitharaman unveils Union Budget 2021; doubles healthcare spending, lifts caps on FDI

Finance Minister Nirmala Sitharaman on Monday delivered her third Budget speech in the Parliament. Here's the full text of her speech in Lok Sabha

Union Budget 2021: Nirmala Sitharaman aims to raise resources without raising taxes; a bold step

From a consumer and healthcare perspective, Union Budget 2021 has a lot of positives. On the healthcare side, COVID-19 pandemic had brought to light India's underspend in healthcare. Budget 2021 has done well by allocating over Rs 2 trillion holistically towards the health sector, a handsome increase of 137 percent.

Union Budget 2021: Auto sector expects relief in custom duties; EV units seek tax holiday

The auto industry expects relief from the Union Budget 2021 in multiple areas including direct and indirect taxation

Union Budget 2021: Policies, regulations must be extended to farm-based EVs

In order to develop the agriculture sector, significant policies and regulations must be extended to farm-based EVs in national as well as local contexts

Union Budget 2021: Auto industry optimistic about recovery from pandemic; expects cut in GST rates

The removal of restrictions to avail the input tax credit of GST paid on automobiles for businesses would make vehicles more affordable when used for business purposes, besides fulfilling the basic intention of GST to eliminate cascading of taxes.

Union Budget 2021: Society of Manufacturers of Electric Vehicles calls for rejig of FAME II

The Rs 10,000-crore FAME-II scheme, which is to be implemented over a period of three years, came into effect from 1 April, 2019

Union Budget 2021: Defer timelines for Phased Manufacturing Program for EVs, automakers need time to set up facilities

Incentives on scrapping old vehicles and replacing them with revised emission norms compliant vehicles will catalyse automotive production and sales.

Union Budget 2021: From going paperless to no briefcase, 5 differences in the way it will be presented this year

The Union Budget will be presented against the backdrop of the economy in recession due to COVID-19

Union Budget 2021: Auto dealers' body demands depreciation benefits for individual taxpayers

In its Budget recommendations, the Federation of Automobile Dealers Associations also said auto dealers should be kept out of annual tax collected at source of 0.1%