02 February,2024 07:05 AM IST | Mumbai | Rajendra B. Aklekar
Representation Pic
The interim budget on Thursday raised capital allocation for the Ministry of Road Transport and Highways from Rs 2.58 lakh crore to Rs 2.72 lakh crore and also allocated Rs 2,671 crore for the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India scheme.
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"The focus will be on charging infrastructure and roads, which will boost the economy," a transporter said. The government will also transition most public transport vehicles to EVs. "Our government will expand the number of EVs and push for greater adoption of electric public transport with a formal payment mechanism," Nirmala Sitharaman announced.
The plan includes increasing the share of EVs to 30 per cent in private vehicles, 70 per cent in commercial vehicles, 40 per cent in buses, and 80 per cent in two-wheelers and three-wheelers by 2030. "The Budget promises to drive development and innovation. The continued focus on infrastructure with an increased outlay of Rs 11.11 lakh crore will play a key role in boosting economic growth," Olivier Loison, managing director, Alstom India, said.
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