The government is set to announce a subsidy of Rs 2.5 lakh on electric vehicles. These subsidies will be available on cars, e-buses, and e-bikes. This initiative promotes green fuel in the country. According to sources, under this package, a majority of funds will be allocated to electric two, three-wheelers, and buses used for public transportation.
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The government is going to take up this proposal as a part of the Fast Adoption and Manufacturing of (Hybrid and Electric Vehicles) India (FAME-2) scheme. Under this scheme, the central government is providing a subsidy that is distributed to different states. On the other hand, some states are also providing these subsidies on their behalf.
For example, the Maharashtra government is giving a subsidy of Rs 5,000 per kilowatt on e-vehicles. The state government has announced in its electric vehicle policy that a subsidy of up to Rs 1.5 lakh can be given to the first 10,000 buyers for purchasing a four-wheeler electric vehicle. This adds up to a subsidy of Rs 2.5 lakh.
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The Delhi government has announced a subsidy of Rs 1.5 lakh on e-vehicles. This will be provided to the 1,000 buyers of these vehicles.
The Yogi Adityanath government has also announced subsidies for e-bikes and e-buses. The initial purchase of 25,000 automobiles under the programme will receive a subsidy of Rs 1 lakh, according to the UP government. If the Center’s subsidy is also taken into account, the exemption will rise to Rs 2 lakh.
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In this race, the Gujarat government is offering an electric car discount of up to Rs. 1.5 lakh. These discounts will be provided on the first 10,000 electric vehicles sold. The overall exemption would rise to Rs 2.5 lakh if the central government’s subsidy of Rs 1 lakh were applied to it.
The same is the case with the Uttarakhand government, the state government will be giving a subsidy of Rs 1.5 lakh whereas if you add up the centre’s subsidy of 1 lakh then you will get a total discount of Rs 2.5 Lakh.
