India thinks its cities can become the “Detroit of EVs.”  With that vision, finance minister Nirmala Sitharaman today (July 5) announced a bunch of policy actions to make owning and manufacturing electric vehicles (EVs) cheaper in the country.  Among other things, the government has moved to reduce the goods and services tax (GST) on EV purchases to 5%, compared with the existing rate of 12%, Sitharaman said while announcing the union budget for 2019-20.  Sign up for the Quartz Daily Brief email Enter your email Sign me up  Stay updated about Quartz products and events. Thanks for being a loyal reader. You’ve hit your monthly article limit. Become a member to continue reading and support our journalism. Get unlimited access to Quartz on all devices. Unlock member-exclusive coverage, CEO interviews, member-only events, conference calls with our editors, and more.  Start free trial Log in Membership will also get you:
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India thinks its cities can become the “Detroit of EVs.” With that vision, finance minister Nirmala Sitharaman today (July 5) announced a bunch of policy actions to make owning and manufacturing electric vehicles (EVs) cheaper in the country. Among other things, the government has moved to reduce the goods and services tax (GST) on EV purchases to 5%, compared with the existing rate of 12%, Sitharaman said while announcing the union budget for 2019-20. Sign up for the Quartz Daily Brief email Enter your email Sign me up Stay updated about Quartz products and events. Thanks for being a loyal reader. You’ve hit your monthly article limit. Become a member to continue reading and support our journalism. Get unlimited access to Quartz on all devices. Unlock member-exclusive coverage, CEO interviews, member-only events, conference calls with our editors, and more. Start free trial Log in Membership will also get you:

The Indian government wants promoters of listed companies to hold a lower stake—and the stock market isn’t excited about that. …
The task at hand for India’s finance minister Nirmala Sitharaman was clear cut, yet tricky.  In her maiden budget yesterday (July 5), Sitharaman had to address the nagging issues of sluggish growth, unemployment, and declining investments while sticking to the path of fiscal prudence.  In the end, she steered clear of any high-scale stimulus packages that would have widened the fiscal deficit and focused only on the most embattled sectors of the economy. There were proposals to revive the troubled aviation and shadow banking sectors, for instance, besides a big push for infrastructure spending.  Enjoy this content in the new Quartz app Get the app Thanks for reading! You’ve hit your monthly article limit. Become a member to help build the future of journalism with Quartz. Get unlimited access to Quartz on all devices. Unlock member-exclusive coverage, CEO interviews, member-only events, conference calls with our editors, and more.
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The task at hand for India’s finance minister Nirmala Sitharaman was clear cut, yet tricky. In her maiden budget yesterday (July 5), Sitharaman had to address the nagging issues of sluggish growth, unemployment, and declining investments while sticking to the path of fiscal prudence. In the end, she steered clear of any high-scale stimulus packages that would have widened the fiscal deficit and focused only on the most embattled sectors of the economy. There were proposals to revive the troubled aviation and shadow banking sectors, for instance, besides a big push for infrastructure spending. Enjoy this content in the new Quartz app Get the app Thanks for reading! You’ve hit your monthly article limit. Become a member to help build the future of journalism with Quartz. Get unlimited access to Quartz on all devices. Unlock member-exclusive coverage, CEO interviews, member-only events, conference calls with our editors, and more.

India thinks its cities can become the “Detroit of EVs.” With that vision, finance minister Nirmala Sitharaman today (July 5) announced a …