Budget 2019: Govt’s commitment to promoting EV adoption
Posted by Avis on September 9, 2019|
We are delighted with certain provisions made in the latest budget, as they underline the government’s commitment to promoting EV adoption in India. The move to allow an additional tax deduction of INR 1.5 lakh on loans taken for EV purchase, in particular, will incentivize more Indian consumers to buy electric vehicles. Sustaining this momentum, however, will require a dedicated push to create stronger EV support infrastructure on a pan-India level. We hope that the government will prioritize this aspect, as it will be integral to bolstering the growth of the country’s EV industry and will also help in drastically reducing carbon emission and air pollution levels.