What electric two-wheeler makers need from Budget

Gemopai, an electric scooter maker in India, urged the govt to continue to provide incentives and support for the FAME scheme and electric vehicle (EV) tax exemptions in 2024 and beyond.According to Amit Raj Singh, Founder and MD of Gemopai, the government could lower the goods and services tax (GST) on batteries to 5% to make EVs more affordable for customers. "The EV sector is hopeful about a slew of sops that will foster a conducive environment for the growth of electric mobility in India," Amit added while hoping for "attractive interest rates to financial institutions to promote EV funding".Finance Minister Nirmala Sitharaman is set to present an interim budget on February 1. Meanwhile, the government is rumored to be actively considering extending the FAME scheme for the next financial year as well. However, how much it would allocate for the E2W sector remains to be seen. Industry players have their fingers crossed to see whether or not it turns out to be a happy new year.