Union Budget 2023 Reactions Tech & Auto Industry: Finance Minister Nirmala Sitharaman has presented the Union Budget for the financial year 2023-24 in the Lok Sabha. Finance Minister Nirmala Sitharaman has laid special emphasis on technology and automobile sector. There has been an encouraging response from the industry regarding this. Let’s have a look-
Sahil Chopra, Founder and CEO of IQbuswire, says- The budget looks promising for the digital and technology sector. Emerging technologies like 5G, Web 3.0 and Metaverse will give rise to new business opportunities. In addition, implementing a comprehensive legal framework will strengthen personal data protection. Investments in technological innovation and digital asset creation will help in the development of a knowledge-based economy, with premier educational institutions playing a leading role. With the development of three Centers of Excellence for Artificial Intelligence in its top educational institutions, we will get closer to making AI a reality in India.
Union Budget 2023: Central government will help states in vehicle scrapping, 15 year old vehicles will become junk
Pankaj Sharma, Co-Founder and Director, Log9 Materials, says – The proposed customs duty exemption on the import of capital goods and machinery required for the manufacture of lithium-ion batteries has come as a new ray of hope for all battery manufacturers as it will increase the country’s production. This will help in ramping up the capacity and also provide the much needed speed. Also for the country’s vision of becoming self-reliant in its EV needs.
Budget 2023: Electric vehicles will be cheaper, custom duty will be reduced on lithium ion batteries