Which of the following statements related to the automobile sector is not correct ?

Correct Answer: A. It generated direct and indirect employment of 5.3crore at the end of 2021.

Explanation: Automobiles India has become the world’s 3rd largest automobile market. Surpassing Japan and Germany in terms of sales The sector’s importance is gauged by the fact that it contributes 7.1 percent to the overall GDP and 49 percent to the manufacturing GDP while generating direct and indirect employment of 3.7crore at the end of 2021. Domestic electric vehicles is expected to hit one crore units of annual sales by 2030. The EV industry will create 5 crore direct and indirect jobs by 2030. FAME Scheme - Faster Adoption and Manufacturing of Electric Vehicles FAME 2 - Budget Outlay: ₹10,000 crore 2 Wheeler, 3 Wheeler, Cars and Buses Charging stations Production Linked Incentive scheme.