Govt announced a fund of Rs 1 lakh crore to encourage research and innovation: PM Modi

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PM Modi inaugurated the Bharat Mobility Expo 2024. Addressing the gathering, he said, "In yesterday's budget, a fund of Rs 1 lakh crore has been announced to encourage research and innovation. The decision has also been made to extend tax exemptions for startups. These decisions will create new possibilities in the mobility sector as well. The biggest challenge facing electric vehicles today is their cost and batteries. This fund could be utilized for research in this area. Our Rooftop Solar Scheme also includes components related to EV manufacturing, providing assistance to the auto sector."

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