The Centre has, in the Union Budget 2025-26 (Apr-Mar) on Saturday, recommended reducing customs duties on certain motor vehicles and motorcycles on Saturday. Additionally, it also proposed to exempt import duty on products used to make lithium-ion batteries for electric vehicles. Further, the Centre increased allocation for production-linked incentive scheme for the auto sector for the next financial year, and its allocation towards the PM Electric Drive Revolution in Innovative Vehicle Enhancement scheme.
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