Govt. working to reduce e-vehicle tax: NITI Aayog
NITI Aayog CEO said the government was pushing for electric mobility with FAME and FAME 2 schemes, bringing down the rate of taxes on electric vehicles at 5%, as compared to 28% for other vehicles and 43% for hybrid vehicles. Tax exemption, up to Rs 1 lakh, to people who are buying electric vehicles to increase focus on electrification will be huge. If India has to emerge as a leader in clean, connected and shared mobility, there are two important things to keep in mind — one is that India is a major user of two- and three-wheelers and 80% of people travel in these vehicles. Second, battery will be an important component. Battery manufacturing and storage will be a key component and storage will have to be linked to renewable energy integration with the grid.
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