 "electric cars")
In a big push to electric mobility in the Budget 2023, apart from a custom duty cut on lithium-ion batteries, the government also nearly doubled its budgetary allocation for schemes linked to the development of the electric vehicle industry under the Ministry of Heavy Industries (MHI).
According to the Budget documents, of the total Rs 6,171 crore allocated to the MHI, 93 per cent was for green mobility. The amount allocated for the development of the automobile industry was doubled to Rs 5,776.97 crore from Rs 2,942.90 crore in FY23.
The highest amount went to the Centre’s flagship Faster Adoption
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