Budget 2020 Expectations: Rajeev Chaba, MG Motor India's MD & President, on what he seeks in Modi 2.0's big presentation
Ahead of the presentation, Rajeev Chaba, President & Managing Director - MG Motor India, spoke about on expectations from the upcoming Budget 2020 for automotive industry.
PM Narendra Modi-led Central government is all set to present Budget 2020. Various sectors are pinning high hopes on a big presentation as this is the first full budget of Modi 2.0. Ahead of the presentation, Rajeev Chaba, President & Managing Director - MG Motor India, spoke about on expectations from the upcoming Budget 2020 for automotive industry.
Rajeev Chaba, President & Managing Director - MG Motor India, says - "The budget announcements will be key to setting the tone for 2020 for the automotive industry. The government’s recent announcements on the promotion of EVs in India, especially for government use and public transport, is encouraging. However, we feel that more work needs to be done to promote EV adoption in India not only in public transport but amongst private customers as well."
Chaba adds, "We hope that the government provides the right policy, incentives, and charging infrastructure to put more EVs on the road. It should also look at providing incentives to stakeholders for sourcing critical raw materials for EV battery manufacturing in India. This will enable a strong EV-centric ecosystem and will be beneficial for the long-term growth of this high-potential space.
"The government should also look at offsetting the increase in GST costs due to the recently-introduced BS-VI norms to stimulate market demand for ICE vehicles," Chaba concluded.
Union Budget for 2020-21 is all set to be presented on Saturday, February 1, 2020.
Interestingly, this will be first time after 2015-16 when budget is set to be presented on Saturday.
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