Key Budget Highlights with Reference to EV Space in India

Key Budget Highlights with Reference to EV Space in India

The Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman had recently tabled the Union Budget 2022-23 in the Parliament. Here are the key highlights of the budget with reference to Indian EV Space. 

  • The Indian government will promote the shift to the use of public transport in urban areas.
  • The shift will be assisted by the use of cleantech and governance solutions, Electric Vehicles and special mobility zones with zero fossil-fuel policy. 
  • Battery swapping policy – considering the constraint of space in urban areas for setting up charging stations at a scale. The battery swapping policy will be brought out and interoperability standards will be operated.
  • The private sector will be encouraged to develop sustainable business models for ‘Battery or Energy as a Service’. This will help to improve efficiency in the EV ecosystem. 
  • Data centers and Energy storage systems including dense charging infrastructure and grid-scale battery systems will be included in the harmonized list of infrastructure. 

Also Read: After E–Scooter, OLA Wants To Do an Electric Car

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