FCC

Tata Motors anticipates stable policies in upcoming budget

2024-06-27

Tata Motors indicated that they anticipate policy continuity in the upcoming Union Budget. They also emphasised the necessity for additional players in the charging infrastructure sector to expedite the adoption of electric mobility across the nation. The new NDA government is expected to present the Union Budget next month.

Historically, the Central Government has presented the Union Budget on February 1 in recent years. However, earlier this year, due to the upcoming 2024 elections, only an interim Budget was presented.

Regarding budget expectations, Tata Motors' Shailesh Chandra explained that the government has shown clear support for accelerating the penetration of electric vehicles (EVs) in the country. "We have schemes like GST and PLI fully supporting this initiative," he noted.

Chandra expressed, "Our expectation for the Union Budget is that the current policies continue until the electric vehicle industry achieves self-sufficiency." He stressed the importance of policy continuity until EV penetration reaches 15-20%, highlighting the critical need for enhanced policy support for charging infrastructure, a significant barrier to EV adoption.

He mentioned that oil marketing companies have received subsidies to install 2000 chargers over the next 18 months, underscoring the potential for increased private sector involvement in this crucial area.