Union Budget 2022: Union Finance Minister Nirmala Sitharaman Presented the Union Budget on Tuesday. During this, the government also made many announcements regarding the auto sector in the budget. The budget is being well liked by the auto industry. in its line Toyota Kirloskar Motor (Toyota Kirloskar Motor) is also included. “We welcome the forward-looking budget that clearly outlines the government’s long-term objectives of focusing on growth, inclusivity, technology-enabled growth, increasing productivity, energy transition and climate action,” the company said in a statement. The budget has sought to achieve a fine balance between fiscal consolidation with the need for sustained public spending to nurture economic growth with a clear emphasis on sustainability and infrastructure development through public-private partnerships ”
The company further said in its official statement, “Transactions from the continued focus on “Ease of Doing Business – 2.0” through trust based governance, integration of central and state level systems, advanced infrastructure, 5G telecommunications etc. These efforts will be complementary and synergistic to the already announced Production Linked Incentive (PLI) schemes by the government for fourteen sectors including the automotive sector, thereby improving the competitiveness of the trade industry in India.
With the government’s push for green energy and clean mobility systems, India is on a path of immense potential. As a sustainability-committed organization, we believe that clean mobility initiatives and the government’s push for blended fuels will play a key role in achieving decarbonization goals and reducing dependence on fossil fuels. One of the biggest challenges for the EV ecosystem are battery charging stations. The proposed battery-swapping policy will help create standards for interoperability that will make EVs more accessible and affordable.