3, Feb 2023
Budget Reaction: Mr Girish Nagpal, CEO & Co-Founder, MetroRide
“Government’s focus to encourage manufacturing of products locally will boost the national manufacturing infrastructure. It’s great to see a clear focus & plan to achieve the net-zero carbon emission target by 2070. The Green Growth initiative & announcement of Rs 35,000 crore for priority capital investments towards energy transition and net zero objectives are a welcome move.
An outlay of ₹19,700 crore National Green Hydrogen Mission will reduce dependence on fossil fuel imports in the long run. Batteries are a key component in the sustainability sectors. Basic Import duty on goods and machinery used in the manufacture of lithium-ion cells has been waived which will encourage production of EVs & batteries locally and will benefit the ecosystem immensely.
The current budget is well structured with provision for every sector. With proper allocation of resources, the future economic growth of the country seems promising.”