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India's Electric Vehicles Push: Key Incentives and Schemes

Official Press

Official Press

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The Ministry of Heavy Industries in India has reported significant growth in electric vehicle (EV) penetration from 2020 to 2025, rising from 0.71% to 7.50%. To support this transition, several government schemes have been introduced. These include the Production Linked Incentive (PLI) Scheme for Automobile and Auto components with a budget of ₹25,938 crore aimed at boosting advanced automotive technology manufacturing. Another is the PLI Scheme for Advanced Chemistry Cell Battery Storage with a budget of ₹18,100 crore to enhance domestic battery production. Additionally, the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme, with an outlay of ₹10,900 crore over four years, encourages the sale and manufacture of various electric vehicles by providing incentives and developing infrastructure. The focus of these initiatives is to strengthen supply chain resilience and increase domestic manufacturing in the EV sector.

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Union Budget 2026-27: Key Direct Tax Proposals for Simplifying Penalty and Prosecution Processes

The Union Budget 2026-27, presented by Finance Minister Nirmala Sitharaman, outlines direct tax measures aimed at simplifying penalty and prosecution processes. Key proposals include integrating assessment and penalty proceedings to reduce multiplicity, providing retrospective immunity from prosecution for non-disclosure of certain foreign assets, and converting penalties for technical defaults into