Govt announces no plans to increase EV subsidies

05 Aug 2024 CW Team

The policy environment for encouraging the production and sale of electric vehicles (EVs) in India seems to be in a state of uncertainty. Despite the industry's hopes for an extension of the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) subsidy scheme, the recent Union Budget, presented last month, did not include any new announcements regarding additional incentives for EV sales.

Furthermore, a scheme intended to boost domestic manufacturing of electric passenger cars has also been stalled since its hurried announcement in March, as its guidelines are still pending publication. Only one stakeholder meeting has occurred so far. The industry is already expressing dissatisfaction with this scheme, which supports domestic manufacturing and appears to align with the demands of certain global EV OEMs, including Tesla. Domestic OEMs have voiced objections to the concessions proposed for Tesla and other global manufacturers, leaving the matter unresolved.

Adding to the challenges facing the electric vehicle sector, the Ministry of Heavy Industries has firmly stated that there are no plans to increase subsidies for various categories of EVs. In response to a query about potential increases in subsidies to enhance EV adoption, Minister of State B S Varma indicated in a written reply to the Rajya Sabha that the Ministry is not considering any proposals to raise subsidies per unit for different types of e-vehicles. He attributed this decision to the absence of a slowdown in EV sales, noting that the current subsidies and incentives are deemed sufficient. According to government data, EV registrations have surged nearly tenfold over the past five years, growing from approximately 1.74 lakh in 2019-20 to 16.8 lakh in 2023-24.

Real Estate

14 May 2026

AIDO Launches Smart Hotel Lock for Hospitality Spaces

AIDO, an endorsed brand of dormakaba, has launched the AIDO Hotel Lock, designed to improve secure and seamless access management across hotels, serviced residences and institutional spaces. The solution combines smart security, operational efficiency and contemporary design to support modern hospitality requirements.The lock features integrated electronic mortise functionality, reverse lifting handle locking and compatibility with third-party property management system platforms, enabling smoother room access and check-in operations. Powered by 6V DC with four AA alkaline batteries, it offers..

Häfele Unveils Zenith Digital Lock

Häfele has introduced the Zenith Digital Lock, designed to enhance home security through smart technologies and versatile locking functions. Finished in Black and Grey, the lock blends with modern interiors while offering a refined, tech-enabled access experience.The lock features Smart Password technology for secure access and added protection against password tracing. Its Smart Voice function provides guided assistance for easy operation, while Smart Freeze temporarily disables access after multiple incorrect attempts, strengthening safety and control.The Zenith Digital Lock also offers mul..

KBL Revenue Rises 11 Per Cent in Q4 FY26

Kirloskar Brothers Limited reported consolidated revenue from operations of Rs 14.15 billion for Q4 FY26, compared to Rs 12.81 billion in Q4 FY25, registering around 11 per cent year-on-year growth. Consolidated Profit Before Tax stood at Rs 1.47 billion, against Rs 1.27 billion in the corresponding quarter last year. Profit After Tax stood at Rs 1.04 billion, compared to Rs 1.12 billion in Q4 FY25.For FY26, consolidated revenue from operations stood at Rs 45.38 billion, compared to Rs 44.92 billion in FY25. Consolidated Profit After Tax for the year was Rs 3.61 billion, against Rs 4.03 billio..