EV New Delhi/IBNS: There are 966,363 electric vehicles on road across the country, Minister of State for Heavy Industries informed parliament on Friday.
In order to promote adoption of hybrid and electric vehicles in the country, the Government launched the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme since 2015 on pan India basis, he said
Presently, Phase-II of FAME India Scheme is being implemented for a period of 5 years w.e.f. 01st April, 2019 with a total budgetary support of Rs. 10,000 crores.
For adoption of electric vehicles in the country on May 12, 2021 approved a Production Linked Incentive (PLI) scheme for manufacturing of Advanced Chemistry Cell (ACC) in the country in order to bring down prices of battery in the country. Drop in battery price will result in cost reduction of electric vehicles.
Electric Vehicles are covered under Production Linked Incentive (PLI) scheme for Automobile and Auto Components, which was approved on September 15, 2021 with a budgetary outlay of Rs. 25,938 crore for a period of five years.
Further, GST on electric vehicles has been reduced from 12 percent to 5 percent; GST on chargers/ charging stations for electric vehicles has been reduced from 18 percent to 5 percent.
Ministry of Road Transport & Highways (MoRTH) announced that battery-operated vehicles will be given green license plates and be exempted from permit requirements.
He also informed the parliament that a notification has been issued advising states to waive road tax on EVs, which in turn will help reduce the initial cost of EVs.
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