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Subsidy On Electric Two-Wheeler: As The demand for electric two-wheelers is increasing, the government is also providing many benefits including subsidy to encourage people to buy electric vehicles. Keeping this trend going, the government has extended the subsidy deadline on EVs for the next seven months.
Subsidy on electric three-wheelers reduced
The central government has continued the subsidy of Rs 10,000 on electric two-wheelers through PM e-drive. The government has extended the deadline for the subsidy scheme on these vehicles till March 25. At the same time, a subsidy of Rs 50,000 was also being given on electric three-wheelers. But the government has reduced this amount to Rs 200 from April 2024. It has become 25 thousand.
Charging infrastructure will be expanded
Announcing the government's plan yesterday, Union Heavy Industries Minister HD Kumaraswamy said, “Our target is to have about 10 per cent of vehicles in the two-wheeler segment and 15 per cent of vehicles in the three-wheeler segment to be electric by March 26. This reflects the need to increase the use of electric vehicles for clean transport and ramp up charging infrastructure.”
Lowest GST on electric cars
E-cars have the lowest GST applicable as part of the government's plan to promote electric vehicles. With the government imposing only 5 per cent GST on e-car purchases, the new scheme has been designed keeping in mind the previous two phases of the family.
Promoting EVs in public transport
The government is encouraging the use of EVs in public transport. For which there is a provision to spend about 40 percent (Rs 4391 crore) of the budget allocated by the government on subsidy of electric buses.