Mention
Budget 2019: Boost for EVs evokes mixed reactions from auto industryedit
Home-grown carmakers have lauded the government’s resolve to promote electric-driven mobility, even as the local arms of global firms rued that the fiscal incentives in the Budget leave out other clean vehicle technology options.
Budget 2019: Electric Vehicles To Get More Affordableedit
The NDA 2.0 government made some major announcements for pushing electric mobility in India as part of the Union Budget 2019. While the Indian auto sector did not witness any dramatic changes in tax norms, Finance Minister Nirmala Sitharaman recommended reducing the GST rate on electric vehicles from the current 12 per cent to five per cent in a bid to push the sale of EVs in the country.
Union Budget 2019: Save Up To Rs 1.5 Lakh On Income Tax Through A Loan On Any Electric Vehicleedit
Union Budget 2019 is being announced and Finance Minister Nirmala Sitharaman has made it clear that the centre will be empowering the adoption of electric vehicles in India in every way possible. For this, the new union budget now offers a deduction in income tax on the interest on loans taken to buy an electric vehicle. In addition, the tax on such electric vehicles has now been reduced to 5% from the previous 12%.
Vroom vroom: Rs 1.5 lakh tax sops! Time you hop on to e-caredit
Even as the government made its intentions clear by offering additional tax sops on electric vehicle (EV) purchase, it is the announcement regarding the funding of fundamentally sound NBFCs which is expected to provide immediate arrest of a prolonged slowdown in overall automotive sales, claim the industry stakeholders.
Union Budget 2019: For Electric Vehicles, an electrifying moveedit
If all goes well, Bengalureans can thank Finance Minister Nirmala Sitharaman for cleaner air in a few years. In the Union Budget, Sitharaman announced an income tax deduction of Rs 1.5 lakh on interest on loans taken to purchase electric vehicles, which she said would translate into benefits of Rs2.5 lakh for every consumer purchasing an EV over the loan period.
Govt steps on the gas to put India’s EV mission in fast laneedit
The Union government unveiled a host of incentives for electric vehicles (EVs), including income tax rebates for buyers, lower customs duties on spare parts for such vehicles and tax breaks for local spare parts makers, as it seeks to transform the world’s third-largest oil importer into a global manufacturing hub for electric vehicles.
Budget 2019: Electric vehicle manufacturers unanimously commend policiesedit
Union Budget 2019 has been presented and there are a lot of announcements for the auto sector. The Indian auto market has been on a decline and has a lot of challenges ahead. With the union budget now announced, the electric vehicle manufacturers breathe a sigh of relief with GST benefits and custom duty exemptions for certain EV components.
Union Budget 2019: What industry stakeholders have to sayedit
The first Union Budget at the hands of Finance Minister Nirmala Sitharaman, announced today, sees a sharp focus on accelerating electric mobility in India. The ICE-engined vehicle industry, which is actively engaged in the technological shift to BS VI emission norms and has invested considerable monies in the upgrade, was expecting a reduction in GST to kickstart growth, has little to smile about.
Industry
Sustained Effort Required To Accelerate Electric Vehicles Growth, Say Expertsedit
Even as the government envisages to make India a global hub for electric vehicle (EV) manufacturing, sectoral experts cite the need for a sustained effort to accelerate the production and demand growth of the industry in the country.
Mobility: Budget sops to give an ‘electrifying’ startedit
The budget 2019-20 has given much-needed sops to accelerate electric mobilitythough the auto industry was disappointed that no announcement was there to pull it up from the current slowdown.
Budget 2019: No better time to introduce ‘Green’ tax cut for electric vehiclesedit
Union Budget 2019 India: In her first Union Budget speech, Finance Minister Nirmala Sitharaman took everyone by surprise by introducing a brand-new tax deduction on loans taken to purchase electrical vehicles (EVs). So far, vehicle loans had been outside the ambit of tax deductions that were created to ease the burden of repaying home and education loans.
Lots of grey shades in government’s green pushedit
Though not as green as the BJP’s pre-election manifesto, the Union budget presented on Friday promised ‘Green Mother Earth and blue skies’. The high point was the boost given to electric vehicles for ensuring an environment-friendly public transport system. “A thrust towards electric vehicles is good. When combined with increase in petrol and diesel prices, it sets a general trend towards future electrification. But it will need a matching of narratives,” said Aarti Khosla, director of Climate Trends.
Budget 2019 | Electric vehicle sops: Kerala has first-mover advantageedit
Along with Karnataka, Telangana, Maharashtra, Andhra Pradesh, Uttar Pradesh and Uttarakhand, Kerala will have the first-mover advantage from the Centre’s push for EV regime in the budget. The state had announced a draft of its electric vehicle (EV) policy recently.
Budget 2019: Big push to EVs as government walks the talkedit
In a major push to electric mobility in the country, Finance Minister Nirmala Sitharaman on Friday announced a slew of incentives for the industry including income tax deduction on the interest on any loan on electric vehicle, lower import duty on a host of components and investment-linked income tax exemption for setting up manufacturing for solar electric charging infrastructure and lithium storage batteries.
Competition
Mahindra open to partnership to manufacture EV batteries in Indiaedit
With the Union Budget 2019 showing a marked preference for electric mobility in the automotive industry, Mahindra & Mahindra will be one of the prime beneficiaries of this form of green motoring.
International
How Norway created a structure & culture around EV vehiclesedit
Finance Minister Nirmala Sitharaman on Friday announced a slew of incentives to promote buyers and sellers of the electric vehicle (EV) industry in the form of income tax rebates and reduction of GST from 12% to 5% in a bid to give a fillip to zero emission vehicles.