Budget Reaction 2023: Kinetic Green

Ms. Sulajja Firodia Motwani, Founder and CEO, Kinetic Green.

“Today the budget for ‘Amrit Kaal’ was presented. It was a moment of pride to know that India has made significant progress in sustainable development goals and has become 5^th largest economy in the world.

I welcome the Budget and as likely said by the Hon’ble Finance Minister, the Budget presented today is the blueprint for India @100. As part of the ‘Sapthrishi’ Green Growth was a focus area for the Budget and the announcements made will surely lead India towards achieving the goal of zero carbon emission by 2070. I am glad that the Government acknowledged EV industry’s appeal and has removed the custom duty on capital goods imported for the manufacturing of Lithium-ion batteries, which will result in making EVs more affordable for the masses. This will also boost the production of electric vehicles and components in India as part of the Make In India campaign.

With an emphasis on the Vehicle Scrappage Policy, reduction on basic custom duty rates for automobiles and focus on hydrogen fuel-powered mobility, the Union Budget is positive for the auto sector and has re-enforced Government’s commitment to accelerating EV and green mobility eco-system in India.”