Union Budget 2019 reaction: Special benefits to encourage sale of electric vehicles in India - Shekar Viswanathan, Toyota Kirloskar Motor
Finance Minister Nirmala Sitharaman presented the Union Budget 2019 today. The Budget 2019 covered the topics of efficient public transportation, alternate methods of commute for commercial vehicles, national transport card for universal payment of tolls, tickets for road and rail and retail shopping. It also covered the national highway development plan that will further improve connectivity in the country. Here's the official reaction of Shekar Viswanathan, Vice Chairman & Whole-time Director â" Toyota Kirloskar Motor
Shekar Viswanathan, Vice Chairman & Whole-time Director â" Toyota Kirloskar Motor
"The focus of the 89th Union Budget has mostly been on connectivity and infrastructure emphasizing on demand for connectivity across rural and urban markets. Infrastructure focus including those on road development, will lead to faster and more effective mobility solutions. This is positive news for the auto sector. Initiatives for improving liquidity in the market by capital infusion in the banks should also be of some help to the industry. Furthermore, the proposal of streamlining labor laws could lead to faster resolution of labor disputes.
We appreciate government's initiative to promote clean & green environment with special benefits to encourage electric vehicle (EV). EVs do bring the benefits towards fossil fuel conservation & lowering of carbon emissions. There are other forms of green mobility which will help the government achieve the same objective. The government should also align its taxation policies towards such green mobilities which promote reduction of fossil fuel & betterment of environment. Thus, the focus of taxation should not only be restricted to promote and facilitate the shift to all types of green mobilities but should also be towards all other means which contribute effectively to increased fuel economy and reduced tailpipe emissions.
We see the future moving towards an era with more alternate cleaner & efficient powertrains on roads that the customers and market will ultimately decide based on their mobility requirements. The eco-system should facilitate the consumers to choose the clean vehicle technology that best suits his/her mobility needs, thus enabling an environmentally sustainable growth of the nation."
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