BOOST IN BS-VI ENGINES AND ELECTRIC VEHICLES: UNION BUDGET 2020

Highlights:

• Union budget 2020 promotes Make in India initiative, thus custom duty on BS-VI engine parts that were initially imported are increased.
• India will focus on domestically produced EVs through phase II of the Faster Adoption and Manufacturing of Electric Vehicles Scheme (FAME).
• It is expected that the GST on automobiles will be reduced.

The automobile industry ....