Karan Chaudhary Shares His Opinion On The Upcoming 2022/23 Budget

I think it is important to stop considering the automobile industry as a non-productive sector. The fact of the matter is that the auto sector is a major source of revenue for the entire country. It directly employs over 1,00,000 people. Considering the amount of investment made by stakeholders, it is clear that this is an industry and not just trading.

Furthermore, the 10% duty levied on the import of EVs is making the situation unfavorable and the import of most of these luxury vehicles is limited to certain users who are in it just because it is the latest fad. What’s more important is the transition of normal public vehicles and mass transportation solutions to EVs, and this will happen when the infrastructural problems are addressed. This may take some time. Our focus should be on increasing foreign reserves through other activities and maintaining the ecosystem.

Lastly, a budget hike is not the final solution. We need transport solutions in the country, and for the time being, we still have to rely on petroleum vehicles. The difference in import tax is already maintained in the previous budget between privately owned and public carriers.