Electric Vehicle Incentives: The cost of electric vehicles is much higher as compared to petrol-diesel vehicles. The purchase of electric vehicles becomes economical for the customers due to the subsidy received by the government.
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electric trains (EV) is subsidized by the government to buy. However, for a long time, a discussion is going on in full swing whether the government EV subsidy will close the However, the Parliamentary Committee on Estimates has indicated that necessary steps have been recommended to promote electric vehicles in the country. In its report on Evaluation of Electric Vehicles, the committee has recommended reducing GST on EVs.
In this report related to the Ministry of Heavy Industries, it was revealed that if road tax and Goods and Service Tax (GST) on electric vehicles are not waived, then they should be reduced. At the same time, preference should also be given to give incentive to adopt EV leaving the old petrol-diesel vehicle.
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Why is it difficult to buy an EV?
Compared to petrol and diesel vehicles, the cost of battery operated electric vehicles is much higher. The right infrastructure for EV charging is also not present in the country. Apart from this, one has to depend on other countries for the parts used in making electric vehicles. There is also a shortage of lithium in the country. All these reasons are such that create hurdles in the emergence of electric vehicles.
This is how EV will get a boost
To promote EV, facilities like scrapping policy for EV, skill of labor for service and repairing of EV, fast charging etc. are also needed. Work needs to be done at every level to instill confidence in electric vehicles. Concern has also been expressed in the report on the cost of charging stations.
Subsidy or something else?
The average cost of building charging stations approved in Phase 1 of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME) scheme was Rs 8.27 lakh per station. However, the average cost of charging stations approved under the Fame Phase 2 scheme has increased to Rs 22.45 lakh per station.
The Parliamentary Committee suggested that finance companies should provide finance at low interest rates for the purchase of electric vehicles. Apart from this, concessions like low GST, road tax and registration fee waiver should be a part of the EV policy.
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