Budget Expectations Quote from Droom
“As we move closer to the unveiling of Union Budget 2025, at Droom, we would appreciate policies that will give a push to drive India’s digital transformation, especially in the automotive sector. The previous budget announcements have been forward-looking in giving a boost to emerging technologies. And we expect this year’s budget to focus on boosting indigenous capabilities in AI and data science. These are going to be crucial frontiers in making vehicle buying and selling more transparent, affordable, and efficient. Furthermore, we’d look forward to measures that will bolster the used vehicle market in the country, such as tax rebates from eco-friendly vehicles, simplified GST structure for automatic services, etc. These measures will be critical in empowering platforms like Droom to offer more convenience and invoke more trust amongst our consumers, while contributing in meaningful ways to the nation’s economic growth and development.“– said Mr. Sandeep Aggarwal, Founder & CEO of Droom
Budget Expectations Quote from Oben Electric
The Union Budget 2025 is a critical opportunity to address key challenges in India’s EV transition. To achieve the ambitious target of 30% EV penetration by 2030, it’s crucial to tackle both manufacturing and consumer-centric challenges.
Simplifying the GST structure with a uniform 5% tax across EVs, components, and charging infrastructure is essential to reducing costs and fostering growth. Additionally, resolving the inverted GST structure on raw materials will ease working capital pressures and encourage sustainable manufacturing. Performance-linked incentives for battery innovation and indigenous component manufacturing can further strengthen India’s Make-in-India push, positioning the country as a global leader in EV technology. On the consumer front, initiatives like reduced interest rates on EV loans and targeted subsidies can make electric vehicles more accessible, bridging the affordability gap.”– Mr. Dinkar Agrawal, Founder, CTO & COO, Oben Electric
