New Delhi: Finance Minister Nirmala Sitharaman is going to present the Union Budget 2022-23 for the financial year 2022-23 (FY23) on February 1, 2022. At the same time, the industry body Confederation of Indian Industry i.e. CII has suggested doing away with the service fee limit for charging electric vehicles i.e. EVs.
The industry body said in its report on Tuesday that any cap on the current tariff would discourage private investment, given the uncertainty in the cost and the level of usage. Welcoming the announcement of the Central Government on Production Linked Incentive (PLI) for chemical cell battery storage, CII has called for increased government assistance and financial incentives.
CII says that the initial 50 GWh capacity under PLI may not be sufficient for a large market size. Apart from this, CII in its report has also recommended exemption of GST on end-users to avail duty on electric vehicles. The report also emphasized the need for rationalization of GST on batteries sold separately and batteries fitted in electric vehicles.
The budget session of Parliament will start on January 31
Significantly, this time the budget session of Parliament will begin with the President’s address to both the houses on January 31 and will end on April 8. According to news agency PTI, sources have given this information citing the recommendation of the Cabinet Committee on Parliamentary Affairs. On 1 February 2022, the general budget will be presented in front of the country. The first part of the session will end on February 11. After a month’s break, the second part of the session will start on March 14 and will end on April 8.
