The Yogi government in Uttar Pradesh has given a big gift before Diwali. The government has announced a 15 percent subsidy on the purchase of electric vehicles.
New Delhi: The Yogi government in Uttar Pradesh has given a big gift before Diwali. The government has announced a 15 percent subsidy on the purchase of electric vehicles. The proposal was approved in the cabinet meeting chaired by Chief Minister Yogi Adityanath on Thursday. Under this, exemption will be available on the first two lakh two wheelers. 5000 off on two wheelers.
At the same time, there will be a discount of 12 thousand on the first 50 thousand three-wheelers. Apart from this, exemption will also be provided to 25 thousand four wheelers. One lakh will be given on four wheelers. This initiative will bring down the cost of electric vehicles, which will benefit the common people. This will also help in reducing the level of pollution.
Government introduced electric vehicle policy
The Government of Uttar Pradesh has announced a new Electric Vehicle Manufacturing and Mobility Policy - 2022 with an aim to rapidly disseminate eco-friendly clean transport resources and create a conducive ecosystem for Electric Vehicles (EVs). The state government approved the electric vehicle policy in a meeting of the Council of Ministers on Thursday. Under this, along with many facilities, huge subsidy will also be given on the purchase of vehicles.
"The main objective of the policy is not only to create an eco-friendly transport system in the state, but also to make the state a global hub for manufacturing of electric vehicles, batteries and related equipment," an official statement said. With the primary objective of contributing to India's net-zero emission target by 2070, the policy aims to fulfill the state's aspiration to become a $1,000 billion economy by leveraging the potential and opportunities.
30,000 crore investment target
The policy aims to attract investment of over Rs 30,000 crore and create direct and indirect employment opportunities for over 10 lakh people, the statement said. According to the statement, a three-pronged attractive incentive system has been provided in the policy in this direction. In this, consumers will be given incentives for buying electric vehicles. In addition, incentives have also been provided for manufacturers of EVs, batteries and related parts and service providers developing charging/battery swapping facilities. Uttar Pradesh is one of the largest consumer markets in India, the statement said.
Therefore, for the development of the electric vehicle market in the state, a provision has been made for attractive subsidy to the buyers under the policy. This includes 100% waiver of toll tax and registration fee on all electric vehicles purchased and registered in Uttar Pradesh during the first three years of the policy's effective period.
15 percent subsidy on electric vehicles
According to the statement, under this, a subsidy of 15 percent on the factory price will be given to the electric vehicles purchased in Uttar Pradesh. On the other hand, government employees will be encouraged to buy electric vehicles, for which advances will also be allowed by the state government. In addition, provisions have been made in the policy to attract large scale investments in EV batteries and EV manufacturing.
Under the policy, service providers developing charging and battery swapping facilities across the state will be given a maximum of Rs 10 lakh per project subject to a maximum of 2,000 such charging stations and a maximum of five lakhs subject to a limit of 1,000 such interchange stations. Provision has been made to provide capital subsidy up to Rs. A maximum of Rs 10 crore per project will be provided as 50 percent grant to a maximum of five such projects for setting up centers of excellence by government organizations or public sector undertakings or private companies in the electric vehicle sector.