Budget 2020 expectations: Dedicated fund for EV technology development needed, says Manish Rathi, Intrcity by RailYatri
The Modi government should announce a dedicated fund for the development and research of electronic vehicle technology in the upcoming budget, believes Manish Rathi, CEO & co-founder, Intrcity by RailYatri.
The Modi government should announce a dedicated fund for the development and research of electronic vehicle technology in the upcoming budget, believes Manish Rathi, CEO & co-founder, Intrcity by RailYatri. Rathi said that there is a growing need to invest more towards promoting the manufacturing of electric vehicles with greater than 500 kms run on single charge. He said that it is needed because of the current environmental condition.
"Keeping in mind the current environmental condition, there is a dire need to invest more towards promoting the manufacturing of electric vehicles with greater than 500 kms run on single charge, which in turn, will go a long way in reducing carbon footprint. A dedicated fund for EV technology development and research needs to be allocated to promote development of indigenous technology in this area," Rathi said.
The RailYatri chief hopes that the government will continue to focus on infrastructure and transportation sector as intercity mobility will help the economic growth of smaller cities.
"We would like the upcoming budget to continue focusing on infrastructure and transportation sector especially intercity mobility which is key to the growth of economy of small cities. The initiative by government to recognize private cab aggregators like OLA, UBER, was a welcome move for the intracity mobility and will be the game changer for that industry," he said.
WATCH | Will income tax payers get relief in Budget 2020
"Similarly, we look forward to intercity bus aggregators considered as a recognized entity in the intercity mobility ecosystem. We would love to see the government introduce provisions to enable private companies towards transportation infrastructure for boarding and dropping within the city limits," Rathi added.
He also demanded policies that make it easier for Startup’s to operate in the country.
"While there were policies introduced regarding Angel Tax in the previous budget, the issue continues to remain unresolved. Resolution of this situation will really help in encouraging investors to invest more in Indian Startups," he said.
The Union Budget 2020 will be presented in the Parliament by Finance Minister Nirmala Sitharaman on February 1. You can catch all updates on #Budget2020Zee.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.