Monday, February 28, 2011

National Mission to be Launched for Hybrid And Electric Vehicles

Manufacturing Sector Share in GDP Expected to Reach 25% in Ten Years

Presenting the General Budget 2011-12 here today, Shri Pranab Mukherjee, Finance Minister informed that to provide green and clean transportation for the masses, a National Mission for Hybrid and Electric Vehicles will be launched in collaboration with all stakeholders.

Shri Mukherjee informed that a Group of Ministers (GOM) has been set up to consider all issues relating to reconciliation of environmental concerns emanating from various departmental activities including those related to infrastructure and mining. This GOM will also suggest changes in the existing statutes, rules, regulations and guidelines and make its recommendations in a time bound manner.

He also informed that the share of manufacturing in GDP is expected to rise from about 16% to 25% over a period of ten years. The government will come out with a Manufacturing Policy, which will bring down the compliance burden on the industry through self-regulation and help make Indian industry globally competitive.

The Finance Minister has also proposed to include capital investment in fertilizer production as an infrastructure sub-sector.

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