Budget 2025 Expectations highlights: Sitharaman likely to cut income tax for individuals

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Mobility Energy and Transportation

Budget 2025 expectations highlights: sitharaman likely to cut income tax for individuals

20 Jan 2025

1 min read

Union Budget 2025 News Live: "EV industry advocates for GST parity on batteries, currently taxed at 18%, compared to 5% for EVs. A uniform rate would streamline costs across the value chain and reduce the overall cost of EVs by 5%-10%. Similarly, lowering the GST on solar manufacturing components, currently taxed at 12%-18%, could significantly enhance the affordability of solar energy. This move would encourage greater consumer adoption, boost domestic manufacturing, reduce reliance on imported technologies, and potentially increase solar installations by up to 15%," said Kshiteej Mishra, Practice Leader, Mobility, Energy and Transportation at Praxis Global Alliance.

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Budget 2025 Expectations highlights: Sitharaman likely to cut income tax for individuals | PraxisGA