The government is considering spending Rs 2942 crore on development of automotive industry in FY23, including Rs 2908 crore under the Faster Adoption and Manufacturing of Hybrid and Electric vehicle (FAME) scheme, sources told CNBC-TV18.
The Union Budget could announce further support measures for electric vehicles, vehicle testing, research and development and the sector in general, sources added.
Finance Minister Nirmala Sitharaman will present the Union Budget in Parliament at 11 am.
Like last year, Union Budget 2022-23 will also be presented by the Finance Minister in "paperless form". The ministry said that the entire Budget document will be released on a mobile application for the public after it is presented in Parliament
For all the latest updates on Union Budget 2022, follow our LIVE blog here
For full coverage of Union Budget 2022, click here
The revised estimate of spending on the automotive sector for FY22 stands at Rs 800 crore .
The Union Budget could announce further support measures for electric vehicles, vehicle testing, research and development and the sector in general, sources added.
Finance Minister Nirmala Sitharaman will present the Union Budget in Parliament at 11 am.
Like last year, Union Budget 2022-23 will also be presented by the Finance Minister in "paperless form". The ministry said that the entire Budget document will be released on a mobile application for the public after it is presented in Parliament
For all the latest updates on Union Budget 2022, follow our LIVE blog here
For full coverage of Union Budget 2022, click here
First Published: Feb 1, 2022 9:07 AM IST
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