Union Budget 2019 reaction: Strong commitment by the government to steer electrification on a faster trajectory, Shailesh Chandra, Tata Motors
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 a detailed reaction Shailesh Chandra, President â€" Electric Mobility Business and Corporate Strategy, Tata Motors Ltd
"The incentives announced today by the Finance Minister, in terms of, additional interventions and steps to support the EV adoption, reinforces a strong commitment by the government to steer electrification on a faster trajectory. The proposal to lower the GST rate for EVs to 5% and reduction in duties of EV components, which we are studying, is a welcome step. It will help in further narrowing down the cost of ownership gap against ICE vehicles. Additionally, private buyers, who were earlier not considered for a subsidy through FAME 2, will now have a reason to seriously consider an EV with the tax exemption of up to Rs. 1.5 lakh. Tata Motors has been proactively participating in EV ecosystem creation, aligned to government's vision of achieving a high EV penetration by 2030. Today's announcement further emboldens our resolve and we will further accelerate our efforts."
Also read,ÂÂ
Live updates: Union Budget 2019 announcement