Finance Ministry makes EVs default choice for staff cars, doubles price ceiling to ₹20 lakh

The extension is expected to improve access to institutional finance, encourage new business creation and generate employment among underserved communities

The 444-day non-callable term deposit, available for deposits above ₹1 crore, will now earn 6.85% per annum, up 10 basis points from 6.75%

The revised rules double the price ceiling for electric staff cars, while retaining a separate ₹10 lakh limit for petrol, diesel and hybrid vehicles

The proposed expansion is aimed at increasing annual passenger handling capacity from 2.5 million to 5.2 million over the next three years