Electric Vehicles are still the backbenchers and dark horses of the automobile industry. Everyone knows the benefit of using an electric vehicle but are still apprehensive of making it their own. The Customer base of India still trusts the traditional auto industry, which is causing toxic pollution day in and day out.
The Indian government envisions India as a global EV and battery hub. The Govt understands the sentiments and concerns of the general consumer towards the electric vehicle and hence has come up with outstanding policies in the union budget 2019.
The newly inserted section on Income tax is called section 80EEB of Income Tax Act, 1961 is effective from AY20-21(FY 2019-20). This section talks about deduction on interest payable on the loan, taken for the purpose exclusively for Electric Vehicles. This is one of the most eco-friendly income tax sections and can also save you a lot of tax. 80EEB section is only applicable for individual buyers and also doesn’t encourage hybrid vehicles. Adding to the benefits, over the entire course of the loan tenure; the benefits could translate to a 2.5 lacs INR depending upon the tax slab of the buyer.
India is versatile in terms of politics, government, and has tons of schemes and policies in place. The madness is never-ending if we start talking about the government policies of every state. The Central Government has planted the Electric Vehicle seeds but are state government’s watering the plants?
Here are some commendable steps taken by a few states for the welfare of the EV industry. They are also in sync with the Central government’s vision and initiative for EVs.
The state cabinet of Telangana approved the electric vehicle policy on august 5th 2020. The key features of this state policy are:
Telangana government has issued 1,425 crores and 775 acres for the development and set up for EV manufacturing units. The EV sales have increased by 23% in the year 2020, around 6000 four-wheeler EV cars and 6000 two-wheelers are making their journey every day and bringing a smile to the environment.
Tamil Nadu’s agenda is to create a comprehensive EV ecosystem and has announced its Electric Vehicle Policy in 2019. The key features of this policy are:
Delhi Chief Minister Arvind Kejriwal has announced a new Electric Vehicle policy on 7th august 2020 to promote a greener and pollution-free environment. The salient features of this policy are:
Well, it is safe to say that Delhi is one of the most competitive states in India and they are winning the race when it comes to the promotion of Electric Vehicles.
The Gujarat government has recently announced its Electric vehicle policy.
The Gujrat government is aiming to bring about 1 lac EVs on road by 2020. However, no initiative has been taken to provide any incentives for an individual buyer in terms of tax and fee waivers.
The Maharashtra government has announced its EV policy in 2018. The main aim of the policy was to make the state a preferable investment hub for global manufacturers and investors. The key features of this policy are:
Know more: How to set up an EV charging station in India? A step-By-Step guide with pricing.
The EV butterfly has come out of the cocoon and is searching for a safe place to land. The problem for the butterfly here is to land safely and hold the position for eternity. Although each state government has indeed taken some marvelous initiative towards the betterment of the EV industry, the issue which is brewing is to hold consumer attention. Different state policies create confusion in the consumer’s minds. Right now, the EV industry is gliding through uncertainty, chaos, and change. If a pan India EV policy can be put in place by the Indian Government, then the transition for the EV industry will be with ease and grace.
EV Duniya editorial: This article is written by Chitrangada Das
[…] Government Regulations: Understanding the government regulations in your particular area. Hire a consultant or check from state & central government websites about the latest rules and regulations or subsidies available in the EV sector. […]
Can you suggest website name where I can get information about gujrat
I wants to open type 1,type2,type3 charging station in Mukundgarh,teh. Navalgarh , dist. Jhunjhunu , Rajasthan.
Vijendra Kumar Meena
[…] Government initiatives […]
I want to open an EV charging station in Kerala.Very keen to know about different charger models,the minimum land requried for the chgarging stationn and the investment required for starting the same.Also like to to know what are the factors needed to be checked while choosing a charger model.
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