e-Magazine
News
Local News
International News
Industry
Reviews
Offers
Prices
Videos
More
Photos
Interviews
November 22, 2024
Home
News
Local News
International News
Industry
Reviews
Offers
Prices
Videos
Photos
Interviews
E-Magazine
Social Media
Weather Update
Interviews
'The budget has discouraged the growth of EVs' - Karan Chaudhary, Vice-President, NADA
'The budget has discouraged the growth of EVs' - Karan Chaudhary, Vice-President, NADA
Team Nepal Drives
June 1, 2020
June 1, 2020
Karan-Chaudhary-VP-NADA-CGHoldings-Views-Budget2020-Featured-Image
Amidst this crisis, which has affected all sectors, there was a lot of expectation from the industry that the government will announce measures to revive the industry. However, there wasn’t much in the budget to alleviate the worries of the Nepalese automotive sector.
Here's what Karan Chaudhary, Vice-President, NADA Automobiles Association of Nepal, has to say:
We were hoping to receive a positive outlook with the new budget for the revival of the auto industry. But, it is disheartening to see that the government has further enforced its stance in keeping vehicles as non-essential commodities with the rise in duty structure of electric vehicles. We feel that the government should have given more focus on promoting EVs in the country. The budget has discouraged the growth of EVs. Furthermore, there is still no respite in credit limitation in automobile financing. Yes, the duty structure in the Internal combustion engine has no changes but this cannot be taken as a positive.
While there are a few optimistic notions, such as the removal of excise duty on spare parts and emphasis on automobile assembly, the measures taken by the government still lack any substance for the betterment auto industry. Because of this, it is still improbable that the sector will generate enough employment and earning opportunities to make a significant contribution in reviving the economic slump. It would be right to say that the automobile sector is unimpressed by the outcome of the budget.
Also Read:
Budget 2020/21: A Severe Blow To The EV Industry
Published Date: 2020-06-01 15:34:09
#NADA
#Budget 2020/21
Read more news
MG Windsor EV Dominates India’s EV Market, Set to Enter Nepal
2024-11-22 19:57:00
Post Comments
popular Post
1
CFMOTO Adventure Ride 2024 Announced: Journey with the 450MT from Kathmandu to the Korala Border
2
Sharda Group and Golchha Organisation Join Forces to Expand DC Fast Charging Network Across Nepal
3
Mahindra's BE 6e and XUV 9e Electric SUVs Set to Debut in India Next Week
4
BYD Nepal Celebrates Milestone: 100 EVs Delivered Amid Global 30th Anniversary and 10 Millionth NEV Roll-off
5
Tata Punch EV: A Jab or a Knockout?