The Long-Awaited Interim Union Budget 2024-
25 is Set to Take Indian Manufacturing to the
Next Level!
Dear Readers,
Greetings from the Mobility Magazine!
This month’s focus is on Bihar state’s electric vehicle policy. The Bihar
government wants 15% of all the vehicles registered to be electric vehicles
by 2028. That is a welcome step in reducing pollution and protecting the
environment. Also the state of Gujarat aims to become a semiconductor
manufacturing hub driven by the initiatives of the state and central governments.
Next, the interim Union Budget 2024-25 is seen to be very positive for the
growth of homemade mobile phones, accessories and EVs, as it encourages
Research & Development and domestic manufacturing. There is also special
emphasis on driving semiconductor manufacturing in India. The government’s
initiative to upskilling youth is set to create a lot of employment and also aid
the growth of manufacturing in the country. The Rs. 1 lakh crore corpus with
50-year interest free loans is set to enable the drive the domestic manufacturing
to the next level. The budget is set to propel India to become a USD 7 trillion
economy by 2030 and make India a global manufacturing hub.
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