Union Budget 2019 reaction: Income tax reduction is a major boost for end consumers to purchase EVs, Tarun Mehta, Ather Energy
Finance Minister Nirmala Sitharaman presented the Union Budget 2019 today. The Budget 2019 covered the topics of efficient public transportation, alternate methods of commute for commercial vehicles, national transport card for universal payment of tolls, tickets for road and rail and retail shopping. It also covered the national highway development plan that will further improve connectivity in the country. Here's a detailed reaction from Tarun Mehta, CEO, Cofounder, Ather Energy
"Government has already moved GST Council to lower GST on EVs from 12 percent to 5 percent and the additional income tax reduction is a major boost for end consumers to purchase EVs. It addresses the concern of the upfront cost of purchasing electric vehicles. This is the best example of a consumer driven change and is also how Ather envisions the EV sector to achieve scale and growth. It now becomes imperative that OEMs chalk out plans that allows the industry to scale up and meet the demand for compelling products."
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