Positive impact on Electric Vehicle prices..!?

The average person eagerly awaits the Union Budget presented every year. The Center will be merciful and make some kind of announcement. Unlike the past few years, where there has been no mercy on personal tax income, this time there will be no tax on annual income up to Rs 12 lakh, Union Finance minister Nirmala Sitharaman has announced. However.. even though there is a twist in this regard.. many are saying that those with an annual salary of Rs 23 lakh per year will benefit from it by up to Rs 1.10 lakh. Meanwhile, the budget mentioned that the prices of electric vehicles will come down due to some items in the tax exemption list. However, how much relief will this exemption bring to the average person? The question now becomes.
To further promote electric vehicles, the exemption of duties on raw materials required for the manufacture of EV batteries has now become interesting. Of the items used in the manufacture of EV batteries, 35 were capital goods. Another 28 capital goods related to mobile phone batteries have been excluded from the duty list. It is said that this can have a huge impact on prices. It is said that a maximum reduction of up to Rs. 2 thousand can be achieved on cell phones. At the same time, it is said that a huge reduction can also be achieved in EV cars. This decision is expected to have an impact on prices. They say that there is no need to be surprised if the price of each EV car drops by around Rs. 25,000 to Rs. 50,000 due to the latest duty exemption. However, this is only a preliminary estimate. It should not be forgotten that the actual situation may be different. However, it cannot be said that the situation in terms of prices will be better than in the past.
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Sowmiya Sriram

02/02/2025 02:41 PM