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Government Unveils Plan for Electric Vehicle Expansion in Interim Budget 2024

The strategic initiative focuses on bolstering both the manufacturing capabilities and charging infrastructure, to fortify and expand the landscape for EVs across the country.

February 02, 2024. By Abha Rustagi

Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, revealed an ambitious plan to strengthen the electric vehicle (EV) ecosystem during the presentation of the Interim Budget 2024-25 in Parliament.

The strategic initiative focuses on bolstering both the manufacturing capabilities and charging infrastructure, with the aim of fortifying and expanding the landscape for electric vehicles across the country.

A key element of the plan is the encouragement of widespread adoption of electric buses, with a dedicated focus on enhancing public transportation. To facilitate this, the government will implement a payment security mechanism, fostering confidence among e-bus operators. This initiative is anticipated to invigorate the public transport network, promoting an eco-friendly and energy-efficient mode of commuting.

Prime Minister Narendra Modi's vision of achieving carbon neutrality by 2070 has been adopted as a guiding principle. In alignment with this vision, the government is steadfast in its commitment to promoting clean and environment-friendly vehicles in the country.

The Ministry of Heavy Industries and the Automobile Industry are poised to play pivotal roles in driving this transition towards sustainable mobility.

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