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Union Finance Minister Nirmala Sitharaman, announced the eighth consecutive Union Budget on February 1, 2025. The biggest talking points have been the income tax rebates (increased from Rs 7 lakh to Rs 12 lakh) and a focused drive towards the EV industry, covering both supply and demand. Several reforms have been announced, which will have substantial impact on the automotive industry.
Let’s check out at the major impacts of the 2025-2026 Union Budget on the automotive sector.
The Union Budget 2025 encourages local manufacturing, supports the growth of electric vehicles, offers tax relief (thereby increasing purchasing power) and enhances the rural economy. It also includes provisions for the MSMEs and all measures to create a robust foundation for the Indian automobile industry.
Also Read: Tata Harrier EV to Offer 500 Km Range – Launch Next Month
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