The trend of electric vehicles has come to India and the Government of India is focusing on the auto sector for the development of the country. The government has already introduced a PLI scheme to promote electric vehicles. Now with the announcement of Budget 2022-23, Finance Minister Nirmala Sitharaman has given a big gift to this sector.
The finance minister has talked of improving the connectivity system with charging system and battery swapping to promote electric vehicles and its infrastructure. Finance Minister Nirmala Sitharaman has announced that a battery swapping policy will be implemented to further boost efficiency in the electric vehicle ecosystem.
વાંચો સંપુર્ણ અહેવાલ ગુજરાતીમાં
A battery swapping policy will be introduced and inter-efficiency standards will be formulated for setting up battery stations on a large scale. Finance Minister Nirmala Sitharaman said the private sector would be encouraged to develop sustainable and innovative models as a service for batteries and energy that would enhance efficiency in the EV ecosystem.
One of the highlights for the automotive sector in the Budget 2022 speech was the announcement of a new battery swapping policy. The Finance Minister also mentioned that the focus will be on the inclusion of clean technology and electric vehicles for public transport in India. The National Battery Swapping Policy, if implemented effectively, could have a major positive impact on EV manufacturers.
He also said that in addition to vehicle manufacturers, the policy would also benefit new private players, who would be encouraged to enter the sector and work with state governments. This will make public transport clean, efficient and profitable in the long run.
In her speech, Finance Minister Nirmala Sitharaman also said that the government would create a special mobility zone for the development of e-vehicles. India has set a target of 30 per cent EV sales for private cars, 70 per cent for commercial vehicles, 40 per cent for buses and 80 per cent for two- and three-wheelers by 2030.
According to data from the Ministry of Road Transport and Highways, there are 974,313 registered electric vehicles in India. But according to the Bureau of Energy Efficiency, compared to the number of EV trains, only 1,028 public charging stations have been installed across the country so far. One of the major reasons for the slow sale of electric vehicles in the country is the cost of electric vehicles and the lack of charging infrastructure. In many states, private companies have begun building battery swapping stations to exchange batteries.
Reliance Industries of India and BP Plc of UK have formed a joint venture for battery swapping in the country. Apart from this, Hero MotoCorp and Gogoro of Taiwan have also partnered for battery swapping. Factory fit electric vehicles will also be able to take advantage of the battery swapping facility. The biggest benefit of this will be that you will save time.
Typically, a normal charger takes 8 to 10 hours to charge an EV battery, while a fast charger can fully charge a battery in one and a half to two hours. On the other hand if the charging station is crowded you may have to wait a long time. But by swapping batteries at a battery swapping station, you can avoid this hassle and get to your destination faster. Plus, you'll be getting rid of clutter you don't need.
Finance Minister Nirmala Sitharaman did not make any change in the income tax slab in the Union Budget presented on Tuesday. People were expecting a big relief in income tax but Nirmala announced to Sitaram that there has been no change in income tax rates this year. The middle class and the working class are expecting relief, but they are disappointed.
It may be mentioned that the income tax exemption limit for the common man was increased from two lakh in 2014 to 2.5 lakh. The tax exemption limit for citizens above 60 and below 80 years of age was increased from 2.5 lakhs to 3 lakhs. No changes have been made in the income tax slab since 2014.
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