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How much will the price of electric vehicles be reduced after Budget? – Government Makes Big Announcement for Ev Industry Know how much prices will come down

The electric vehicle industry is happy after the announcement of Finance Minister Nirmala Sitharaman in Union Budget 2025. The announcement made by the Finance Minister in the budget on 1 February will reduce the prices of electric vehicles. The government has accepted many demands of the EV industry. The announcement related to lithium-ion batteries will reduce EV prices significantly. This will increase people’s interest in buying electric vehicles.

Announcement for EV in budget

Finance Minister Nirmala Sitharaman (Nirmala sitharaman)) EV on 1 February (Electric Vehicles) Many things used in basic custom duty (BCD) Announced to give full exemption from. These include cobalt powder, lithium-ion batteries, lead, zinc etc. The government has also reduced import duty on materials used in making batteries. This will lead to a big fall in EV’s battery prices. This will also reduce the prices of electric vehicles.

Local production of battery is also promoted

The government has also increased the list of exgampled capital goods. Additional 35 items have been included in it, which is used to make EV’s battery. This will also strengthen the local supply chain. Experts say that ending BCD on many things used in EV will promote EV’s production. The government has set a target of 30 per cent stake in EVs in total sales of vehicles by 2030.

Allotment of EV schemes was also increased

The government has also increased the allocation of schemes promoting electric mobility in the budget. It has been increased by 20 per cent to Rs 5,322 crore. The allocation of PM e-Drive Scheme has been increased by 114 per cent to Rs 4,000 crore. Under this scheme, electric mobility is promoted along with public charging stations. However, the government did not announce a loan scheme on a concessional interest from banks for EVs.

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EV prices will decrease

People associated with the EV industry say that the announcement of the government for relief in income tax will also benefit the EV industry. Now people with income up to Rs 12 lakh will not have to pay tax. This means that more money will be saved for spending in people’s hands. This will increase people’s interest in buying EV. Experts say that the battery stake in the total price of EV is more than 50 per cent. Therefore, if the price of battery is less than 25-30 percent, then the prices of EV will decrease so much.

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