Union Budget to give push to auto sales

This scheme will not just give a boost to auto sales but also electric vehicles, as the focus of the government is also on a shift to green fuels by 2030. The biggest beneficiary of this push is likely to be companies such as Tata Motors and Toyota Kirloskar, which have a line up of electric vehicle products in all segments.

The announcement has come during a year when the auto companies are predicting a slowing of sales in the automobiles after a record year of 2022, where car makers sold record numbers despite semiconductor shortage impacting manufacturing during the early part of the year.

Union Budget 2023: All you need to know

• ↗️ Finance Minister Nirmala Sitharaman’s Union Budget 2023 has some big takeaways
• ↗️ First, what everyone has been looking forward to: changes in the new income tax regime. She has made the new tax regime more attractive. There are changes in the rebate limit and in tax slabs. What does this mean for the taxpayer?
• ↗️ FM Sitharaman proposed a 33% increase in capital investment outlay, raising it to Rs 10 lakh crore. This is the biggest in the past decade. What does it mean?
• ↗️ Some articles get cheaper and others get costlier due to changes in customs duty. Here is a list
• ↗️ The capital outlay for the railways has been increased to the highest ever – Rs 2.40 lakh crore. The government is trying to create more jobs
• ↗️ FM Sitharaman said the fiscal deficit will fall to 5.9% of the GDP. What does it mean for the stakeholders?
• ↗️ The FM called it the ‘first Budget of Amrit Kaal’. PM Narendra Modi said it will build a strong foundation for a developed India. What did opposition leaders say?