Government To Drop Registration Fees For Buying EVs: Prakash Javadekar
- Javadekar added that his department will spend around Rs 500 crore to set up 2,636 charging stations in 62 cities
- He rejected claims that the automobile industry is struggling with a slowdown due to government regulations
Minister of heavy industries and public enterprises, Prakash Javadekar has said that the government is proposing to scrap registration fees for EVs. It will also use the Union Budget to give an additional income tax deduction of Rs 1.5 lakh on interest paid on loans taken to buy EVs.
Javadekar added that his department will spend around Rs 500 crore to set up 2,636 charging stations in 62 cities. This will be done under the second phase of the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles in India (FAME) scheme. He said in Rajya Sabha that people have purchased about 11,000 EV in the last 10 months by using FAME-II.
He also said that GST on EVs was reduced from 12 per cent rate to five per cent. GST on conventional vehicles is 28 per cent. Javadekar rejected claims that the automobile industry is struggling with a slowdown due to government regulations. He said that norms are needed for safety, fuel economy and the environment. He added that the government, as a policymaker, always attempts to keep and improve the momentum of the economy. It does this through a bundle of measures through stakeholder consultations for the comprehensive and continued development of the auto sector.