Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman while presenting the Union Budget 2022-23 in Parliament highlighted the constraint of space in urban areas for setting up charging stations at scale and announced the proposal of bringing out Battery Swapping Policy and inter-operability standards. “The private sector will be encouraged to develop sustainable and innovative business models for ‘Battery or Energy as a Service”, the Minister noted. She also said that this will improve efficiency in the EV ecosystem.
Finance Minister also stated that We will promote a shift to use of public transport in urban areas. This will be complemented by clean tech and governance solutions, special mobility zones with zero fossil-fuel policy and EV vehicles, she added.
On the Production Linked Incentive Scheme, Sitharaman said, “The Productivity Linked Incentive in 14 sectors for achieving the vision of AtmaNirbhar Bharat has received excellent response, with potential to create 60 lakh new jobs, and an additional production of ` 30 lakh crore during next 5 years’’.
Vikash Mishra, Founder & CEO, MoEVing, commented on the Union Budget, “Electric Vehicle adoption and working towards a fossil fuel free country is at the centre of India’s Budget 2022. Very happy to see the budget taking a holistic view and prioritizing battery manufacturing, charging infrastructure and vehicle adoption, across private and public sectors. We look forward to further building an ecosystem that can support implementation on ground across various stakeholders of the EV ecosystem, resulting in supporting this budget and accelerating adoption of EV, especially among the driver community this year.”
