These days, Transportation is being retouched with electricity instead of conventional fuels. Thus, EVs are becoming a reality and the future for mobile transportation. This reformation is happening not just in passenger-oriented vehicles but also in carrier vehicles.
Speaking of passenger-oriented vehicles, two-wheelers are one of the most preferred personal rides. While electric vehicles are becoming a preference, the ‘cost’ of such vehicles put a huge full stop to it becoming a mass preference. This is all the more concern in a price-driven market like India.
Understanding this concern among the citizens, the government of India has stepped in to help people take up the ‘EV culture’. The government has announced various subsidies on electric vehicles to bring them on the road en masse.
While many of us look forward to buying EVs, the cost of such technology shouldn’t come in between a better step towards the future. Understanding your worries, this blog addresses all such information. We have listed all the state government-provided subsidies. This will help you smoothen the process while buying your EVs.
Also Read, How to ola electric scooter book online ?
Government and Various Subsidies
First thing to know, the Central Government has brought up many direct incentives for taking EVs. One of its first such initiatives was the Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME-II) scheme in 2019. As per this scheme, Two-wheelers inclusive of scooters and bikes are given Rs 15,000 per kWh of the battery capacity (up to 40% of the EV cost). In the case of four-wheelers, the government provides Rs 10,000 per kWh of the battery capacity up to Rs 1.5 lakhs.
Beyond these schemes, the central government provides another attractive offer for consumer benefit. You can get quite a low GST rate on all kinds of EVs, about 5%. This also helps in lowering any related tax loads as compared to the conventional vehicles in the market. Also, as per Section 80EEB, Income Tax Act, first-time buyers can avail of tax benefits that go up to Rs 1.5 lakhs. Another important piece of news is the extra perks that the Ministry of Road Transport and Highways announced. All EVs are exempt from paying extra fees while issuing or renewing their registration certificates
It is important to note that only Electric vehicles under Rs 1.5 Lakhs are eligible for this subsidy.
This is all about the subsidies from the central government on two-wheeler EVs. Besides this, various states across India provide subsidies for the same.
Check Now updated subsidy : https://ackodrive.com/ev-guide/subsidy-on-electric-vehicles/
Wrapping Up
The Major aspect behind low sales of electric vehicles in India is its price. The EVs in the market cost more than any petrol or diesel vehicle available in the same category.
Other than this, EVs require special infrastructure. As of date, conventional fuel stations are rampant while EV charging stations are a huge minority in comparison. Thus, it deters long traveling, and thus, many negate the option of EVs.
The government has realized these issues and is working on the same. The subsidies on all the fronts, right from the buying of electric vehicles to set up charging infrastructures. With the increasing acceptance of EVs, the world will change on a faster note to a better version of itself.
About John Miller
John Miller is a data analyst at shudh india company. He recruits for technology and functional early careers roles. In her free time, he likes to read, travelling, cooking, bake, and exercise.
