Pradhan Mantri Electric Vehicles Subsidy Scheme | 4 Lakh Subsidy On Purchase Of Electric Vehicles
Pradhan Mantri Electric Vehicles Subsidy Scheme – The Central Government is going to provide a subsidy of Rs. 1.40 Lakh on the purchase of an electric car. Not only this, the subsidy will be given on the purchase of two-wheeler and other vehicles. The Central Government is planning to provide Rs. 1.40 Lakh subsidy to the people for purchasing existing electric cars of Mahindra and Tata Motors. However, this subsidy will not be more than 20 percent.
Pradhan Mantri Electric Vehicles Subsidy Scheme
According to media reports, this subsidy can be upto Rs 4 lakhs on expensive and good quality cars, this decision was taken in a meeting held on Thursday by the High Rights Committee headed by A. N. Jha (Expenditure Secretary). In the meeting held under the second phase of FAME, it was decided to exclude hybrid trains and trucks.
This scheme will last for 5 years. For this scheme, the central government will spend Rs 5,500 crores. Whereas earlier this amount was Rs 4,000 crore. By the way, the central government has yet to be stamped on the final policy approval of the policy).
In order to encourage people to avoid the Vehicles running petrol and diesel, the government had allocated a total amount of Rs 700 crore under FAME-I.
According to media reports, the government will also provide the charging station network with subsidy on electric vehicles. But later the government decided to keep the scheme limited to the government buses, but once again the policy changes have been made. The Policy Commission has asked to pay special attention to the 11 most polluted cities including Delhi, Bangalore and Mumbai.
Subsidy Amount On Electric Cars Under Pradhan Mantri Electric Vehicles Subsidy Scheme
Now the question is, how much subsidy will be provided on the electric car. The answer is – It will depend on the car’s battery. A subsidy of 10,000 rupees will be given on every kilowatt hour (KwH) capacity of the battery. For example, existing e-cars come with a 14 kwh battery, i.e. the government will provide a subsidy of Rs 1.4 lakh on their purchase.
Subsidy Amount On 2-Wheelers & 3-Wheelers Under Pradhan Mantri Electric Vehicles Subsidy Scheme
Electric Two-Wheelers have a battery of 2 kWh capacity. The electric three-wheelers have 4 to 4.5 kWh battery, due to which 20 thousand on two-wheelers and up to Rs 45 thousand on three-wheelers subsidy will be available.