Below the Post-Budget Reaction on EV Sector by Ms. Rashi Agarwal, Co-Founder and CBO, Zypp Electric
The Union Budget's focus on increasing women's workforce participation and youth skilling is a significant step towards addressing key barriers women face in the workforce, promoting gender equality and economic empowerment. The youth skilling initiative is a forward-thinking move that will enhance workforce skills and employability, driving industry growth and boosting the gig economy, particularly by increasing two-wheeler and three-wheeler sales beyond metropolitan areas. Abolishing the angel tax is a commendable decision to foster innovation and support the start-up ecosystem. However, we anticipated announcements on the FAME-III policy and special incentives for the EV sector, which weren't part of this budget. Maintaining policy consistency will be essential to the overall expansion of the electric vehicle market. We expect that the government will provide clarification and lower or eliminate taxes on last-mile delivery services before the present program expires this month.
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