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    Assam CM Himanta Biswa Sarma Inaugurates India’s First AI-Powered Digital Banking Branch in Guwahati

    Assam CM Himanta Biswa Sarma Inaugurates India’s First AI-Powered Digital Banking Branch in Guwahati

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Bihar govt to offer EV incentives worth Rs 1.25 lakh and 75% tax relief to boost adoption

By: Editorial Desk

by Editorial Desk
December 7, 2023
in Technology
Reading Time: 2 mins read
Bihar govt to offer EV incentives worth Rs 1.25 lakh and 75% tax relief to boost adoption

Bihar govt to offer EV incentives worth Rs 1.25 lakh and 75% tax relief to boost adoption

Summarize with:

New Delhi: The Bihar government recently approved the Bihar Electric Vehicle (EV) Policy-2023 to accelerate the adoption of electric vehicles (EVs). The policy, endorsed during a state cabinet meeting chaired by Chief Minister Nitish Kumar, aims to achieve 15% EVs in all vehicle registrations in the state by 2028.

Under the policy, for the first 1,000 electric four-wheelers purchased for personal use, individuals can avail up to Rs 1.25 lakh in support. Additionally, a generous 75% relief on Motor Vehicle Tax will be provided to encourage more people to choose electric four-wheelers.

S Siddharth, the additional Chief Secretary of the Bihar government, stated, “The main objective of the scheme is to encourage faster adoption of electric and hybrid vehicles by the people by offering incentives on the purchase of electric vehicles and also by establishing a necessary charging infrastructure. The scheme will help address the issue of environmental pollution and fuel security.”

The policy does not stop at four-wheelers; the first 10,000 personal two-wheeler EVs will also enjoy similar benefits. Subsidies on motor vehicle tax of up to 75% and purchase incentives up to Rs 10,000 will be extended to promote electric two-wheelers.

Furthermore, the policy outlines measures to enhance environmental quality by tackling air pollution and encourages investments and startups in the electric mobility sector and its support industries. Incentives for scrapping EVs and their components are also incorporated into the policy.

The state cabinet approved the acquisition of 400 electric buses under the “PM-e Bus Sewa” program. These buses are set to operate in six districts – Patna, Muzaffarpur, Gaya, Bhagalpur, Darbhanga, and Purnea, aiming to reduce reliance on conventional petrol and diesel-powered public transport.

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Summarize with:
Tags: adoption of electric vehiclesBhagalpurBihar Electric VehicleChief Minister Nitish KumarDarbhangaElectric Vehiclefaster adoption of electricGayaMuzaffarpurPatnaPM-e Bus SewaS Siddharth the additional Chief Secretary of the Bihar government
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