Economic Survey Highlights: The Economic Survey 2023 presented in Parliament has a lot to cheer about for the Electric Vehicle (EV) sector. It has been estimated in the survey that by 2030, 10 million electric vehicles will be sold every year.
Economic Survey News: electric vehicles of indiaEV) The market is expected to grow to one crore units annually by 2030. Along with this, five crore jobs are expected to be created in the EV industry. appeared in Parliament on Tuesday Economic Survey 2022-23 This information has been given in economic review It has been said that in terms of sales, India has become the third largest auto market in the last month i.e. December 2022, leaving behind Japan and Germany.
It was said in the Economic Survey, the motor vehicle industry will play an important role in the transition to green energy. The domestic EV industry is expected to grow at a rate of 49 percent annually till 2030. At the same time, by 2030, annual sales are estimated to reach one crore units.
Industry estimates put the total EV sales in the country at around 10 lakh units during the last year. It was also said in the Economic Survey, the EV industry will generate five crore direct and indirect jobs by 2030. The government has taken several steps to promote this sector.
10,000 crores for EV
Under the government’s Faster Adoption and Manufacturing of Electric Vehicles (FAME) II scheme, between 2019 and 2024, there is a budget provision of Rs 10,000 crore. The survey states that the scheme has incentivized 7.1 lakh EVs, sanctioned 7,210 e-buses, of which 2,172 e-buses have been put on the roads by December 2022.
49% share of auto sector in manufacturing
The Economic Survey presented before the Union Budget showed that the automobile sector is very important for India’s growth. This can be gauged from the fact that according to the survey, the auto sector has a share of 7.1 per cent in the country’s total gross domestic product (GDP). At the same time, the share of this sector in manufacturing GDP is 49 percent.
Electric vehicles got benefit
Through the FAME II scheme, the government had envisaged supporting 10 lakh two-wheelers, 50 thousand three-wheelers, 55,000 cars and 7,090 buses. It was said in the Economic Survey that by the end of 2021, 3.7 crore people had got direct and indirect employment in the auto sector. In 2021, India was the world’s largest two-wheeler and three-wheeler manufacturer. At the same time, the country’s position was fourth in terms of making passenger cars.
