The Government of India is analysing the subsidies that could apply to cost of ownership for electric vehicles (EVs). If all goes well, it could well make an announcement by the beginning of the fiscal year. This comment was made by Ambuj Sharma, additional secretary, Ministry of Heavy Industries & Public Enterprises in reply to a question at the 4th SIAM Diesel Conference held in Mumbai today. He also alluded to the fact that in an election year, one cannot go strictly by deadlines.
Based on estimates, Sharma said subsidies could well work out to Rs 12,000 crore over a seven-year period as the number of vehicles that run on electricity go up. He put first-year estimates in the region of Rs 2,000 crore.
The government is working with the Union finance ministry for a tie-up to facilitate more ownership of EVs. The idea behind the government’s plan is to ensure a self-sustaining ecosystem by the year 2020. The government has said that there could be six to seven million EVs, including two-wheelers, on India’s roads by that dateline. Continued..
Dipan Sur
Viraaj Bhatnagar
