There is a lot of room for expansion in this industry thanks to the development of EV infrastructure and tax exemptions for the auto industry. Government policy expert Shashank Mani Tripathi examines if this reform will help the auto industry in the future under this situation.
While presenting the budget, Union Finance Minister Nirmala Sitharaman made a significant statement for the automotive sector. In this budget, it was said that sufficient cash had been set aside by the government for the replacement of outdated automobiles. The Finance Minister did not, however, mention during his statement about the budget how much money the government had set aside to get rid of old cars and buy new ones.
There will always be a need for new vehicles in all of the state and federal government departments as a result of the ongoing elimination of outdated government vehicles. The auto industry will benefit from this circumstance since the ministries and departments would be forced to replace their outdated vehicles with new ones.