Bajaj Auto Managing Director Rajiv Bajaj expressed strong concerns about the Maharashtra government’s electric vehicle (EV) policy. Speaking to CNBC-TV18, Bajaj said the company has received only a small portion of the incentives it is owed under the state scheme and is uncertain whether the remaining subsidies will be disbursed. “In my 36 years, I have never seen a policy failure, but I am afraid that I will see it with the Maharashtra government’s EV policy,” Bajaj said. Despite the pending dues, he reiterated his long-standing view that subsidies are not a sustainable solution for the industry. According to him, financial incentives often “slow innovation and cushion inefficiency”.