: In a bid to reduce the states carbon footprint, the government has decided to provide subsidies to 11,000 electric vehicles every year for a period of five years. The subsidy will be capped at Rs 25 crore annually.
As per the draft scheme for promotion of electric vehicles in the state, every year for the next five years, subsidy will be given to 10,000 two wheelers not exceeding Rs 10 crore per year, 500 three wheelers not exceeding Rs 1crore and around 500 four wheelers not exceeding Rs 14 crore.
The subsidy will be given on a first come first serve basis, a senior official said.
The subsidy will be disbursed in a single instalment that is 100% on purchase of the vehicle and production of documents of purchase RC book and https://exam.pscnotes.com/Insurance“>Insurance.
The scheme is also aimed at achieving the targets set by the Center, under the National Electric Mobility Plan (NEMPP), to have six to seven million electric and hybrid vehicles on Indian roads by 2020, the official said.
With prices of electric vehicles about 50% higher than that of the conventional internal combustion vehicles, targets have not been achieved.
The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles scheme was launched by the Centre to save 120 million barrels of oil and four million tonnes of carbon dioxide as well as lowering vehicular emissions by 1.3% in 2020.