Budget 2024: Setting the tone for Viksit Bharat and Sustainable Mobility

Budget 2024: Setting the tone for Viksit Bharat and Sustainable Mobility

Budget 2024: Setting the tone for Viksit Bharat and Sustainable MobilityMr. Devndra Chawla, MD and CEO, GreenCell Mobility

We commend the major announcements made by Finance Minister Smt. Nirmala Sitharaman in the Interim Budget 2024. The government’s commitment to promoting sustainable mobility is a welcome step towards a greener future.  Focusing on increased usage of e-buses for public transport networks is a noteworthy initiative. As a green mobility firm, we applaud this effort for its potential to greatly cut carbon emissions and improve the overall efficiency of public transit networks. This decision is completely aligned with our aim to promote ecologically friendly urban mobility alternatives.

Furthermore, encouraging states to undertake the entire development of renowned tourist destinations and sell them worldwide is a smart decision. This not only benefits the tourism industry, but it also presents opportunity for sustainable transportation solutions in these places. We look forward to contributing to such projects with our environmentally friendly mobility solutions.

The commitment to a significant FY25 capex spend of 3.4% of GDP and a capex target of Rs 11.1 trillion, an 11.1% increase, is very bold and forward looking step. It demonstrates the Government’s commitment to infrastructure development. The assistance for the production and manufacture of electric mobility is well aligned with our main business. We applaud the Government’s measures in promotion of sustainable mobility which plays a crucial role in creating a cleaner and greener world.

The announcement highlights the promotion of charging infrastructure for electric vehicles and increased adoption of e-buses in public transport networks. This will be facilitated through a payment security mechanism. The government’s initiative not only drives electric vehicle adoption but also creates entrepreneurial opportunities for vendors involved in the supply and installation of EV chargers. This approach contributes to employment generation, particularly for skilled youth, aligning with our vision of promoting sustainability and fostering economic growth.

Lastly, the focus on solar energy and the rooftop solarisation scheme is a forward-looking initiative. It not only aims to provide free electricity to households but also acts as a catalyst for the growth of the electric vehicle charging ecosystem. We appreciate the holistic approach towards sustainable development, which not only considers the end-users but also fosters entrepreneurship and employment opportunities across the value chain.

At last, the Interim Budget 2024 sets an optimistic tone for the future. We believe that the next few years will indeed be filled with golden moments as the nation progresses toward a more sustainable and resilient future. We eagerly look forward to contributing to and benefiting from these positive changes in the mobility and energy sector.

GreenCell Mobility, promoted by Eversource Capital, is a leading player in the shared e-mobility space. GreenCell Mobility operates NueGo, India’s first premium intercity electric coach service

I believe Devndra’s perspective would be valuable for your coverage of the budget announcement and its impact on the electric vehicle and green mobility space. Please let me know if you would like any additional details or need to schedule a call/meeting with Devndra to discuss this further. I’d be happy to coordinate.