New Delhi: Finance Minister Nirmala Sitharaman made some announcements to boost the Indian auto industry in her Union Budget 2023 speech on Wednesday. To control pollution, emphasis has been laid on scrapping old vehicles.
Automobile budget 2023-24
This time’s budget has not been that special for the auto sector. During the budget of the year 2023, the Finance Minister said that according to the budget of the year 2022, all old vehicles and ambulances will be scrapped under the scrap policy. He said that scrapping old polluting vehicles is one of the most important part of making our economy green.
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Last year this announcement was made in the budget 2022
In last year’s budget, the auto sector did not get the same special place as expected by this sector. Last year’s budget talked about implementing a battery swapping policy to promote EVs. In the budget presented in the year 2022, Finance Minister Nirmala Sitharaman has announced that a battery swapping policy will be implemented to promote more efficiency in the electric vehicle ecosystem, thereby bringing a battery swapping policy to set up battery stations on a large scale. and interoperability standards will be prepared. The private sector will be encouraged to develop sustainable and innovative models for batteries and energy as a service, which will increase efficiency in EVs.
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