IESA expectations on Budget 2021-22 on behalf of Energy Storage and EV Industry

IESA expectations on Budget 2021-22 on behalf of Energy Storage and EV Industry

IESA submitted Budget expectations to MoF dated- 28.1.21. Few expectations from Budget 2021 mentioned in the enclosed letter are listed below

  • GST reduction for batteries & charging / swapping: Suggested rate of 5%
  • Duties for cells and supply chain components including raw and processed materials as well as manufacturing equipment: reduced rate to 5% minimum from higher duties
  • Tax benefits (exemption of Charges & Duties) relaxation to Storage Projects
  • Extension of Fame II incentivization
  • Incentivise MSME sector and Start Up Eco system of Energy Storage and E-mobility
  • Revenue Shortfall Scheme for Manufacturing Sector
  • Government funds for domestic R&D Initiatives
  • Institution for Energy Storage Technology Development
  • Affordable EV retail financing
  • Vehicle Scrappage Policy Incentives

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Published: 28th Jan 2021
Author: IESA Event Team

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