Subsidy on EVs
The Government has come out with an online portal where buyers could avail a subsidy on purchase of electric vehicles. EVs are said to be entitled to a subsidy of Rs.12,000. With plans of the state of Maharashtra to subsidise charging rates and set up 500 recharging points over a period of two years, the new initiative includes a 10 per cent subsidy on public and private buses on their base price in the state, capped at Rs.20 lakh per vehicle. Available on the portal is a detailed registration form. Offered on a first come, first serve basis (to first one lakh EVs, including 20,000 three-wheelers and first 1000 EV buses), the form calls for details of the EV purchased to dole out the subsidy. The details include scanned copies of vehicle registration certificate, invoice, PAN card, and a cancelled cheque for account details where the amount would be deposited, subject to the application being accepted. The disbursement period of subsidy under the new EV policy is set for under three months from the date of successfully submitting the application.