Electric Vehicle Policy Upto 1.5 Lakh Incentive On Buying Electric Vehicle

Recently, the Delhi Government proposed a new Electric Vehicle Policy in which they are up to 1.5 Lakh incentive on buying a new electric vehicle. The government proposed this policy in order to reduce pollution. With this new policy, there will be a huge change in the pollution level of Delhi. The air quality index is very high even breathing the air is harmful to your lungs and skin causing many diseases. By seeing the current scenario the C.M. of Delhi proposes Electric Vehicle Policy. Let’s get to the ground report and know how people of Delhi will be benefited by this Policy.

What Is An Electric Vehicle And How It Is Different From Petrol And Diesel Vehicle?

Basically. an electric vehicle run on the electricity and the power is given out by the electric motors. The power to these motor is given by the battery which is present in the vehicle. The battery is rechargeable therefore gets green and clean energy. That’s the reason behind the Electric Vehicle Policy.

On different hand Internal Combustion Engines which uses fuel such as petrol/diesel to run the vehicle. It leaves the bi-products in the form of smoke which is a pollutant and main cause of pollution. In order to reduce the number of petrol/diesel vehicles, this policy is given by the Delhi government.

What Are The Main Features Of Electic Vehicle Policy?

The people of Delhi will be benefited by this policy in the following ways.

  • If any person buys the electric vehicles the Delhi government will give incentives on purchasing the electric vehicles. The maximum incentive amount is up to the 1.5 Lakh which is a great initiative of the Delhi government.
  • For scrapping the old petrol/diesel vehicle Delhi government will give a good incentive. Because the old vehicle emits more pollutants which damage the environment and increase the air quality index.
  • The Delhi government will provide loan at low interest for the commercial run electric vehicle.
  • The main aim of this policy is to reduce air pollution and increasing the demand to kick start the economy.

Incentive Structure On Electric Vehicle

  • If a person bought an electric vehicle such as two-wheeler, auto-rickshaws, E-rickshaws, freights vehicles in that case the subsidy will be Rs 30000. In the case of purchase of an electric four-wheeler, the subsidy will be Rs 1.5 Lakh.
  • The reason due to which the electric vehicle is not popular due to its cost. These days the electric vehicle are costlier than the petrol/diesel vehicles.
  • The C.M. of Delhi said ” The vehicle which emits pollutants are cheaper hence they are affordable so they are purchased by the people. That’s why the government is giving incentive to people so that they buy an electric vehicle”.
  • Buying an electric vehicle will automatically reduce pollution to a great extent that’s why the government is initiating people to buy an electric vehicle.

Funding Of Incentives

The funding for the new electric vehicle incentives passes through a propose pollution cess. The government will increase the road tax on petrol and diesel vehicles. Especially the luxury cars the congestion fee will increase on premium cars. No taxes will be taken on the electric vehicles. The government is increasing tax in order to switch from petrol/diesel to electric vehicles.

Target Set By Delhi Government

Here are the targets which the government want to achieve through this policy. Some of them are:

  • The government target 25% of new electric vehicle registration by the end of the year 2024.
  • According to the figures, only 0.2% of the vehicle is electric in Delhi which needs to elevate around 25% said by transport minister Kailash Gahlot.
  • The delivery service providers such as Swiggy and Zomato have to convert 50% of their two-wheeler fleet into electric by March 2023 and 100% electric by March 2025.
  • The number of CNG auto-rickshaw will remain same i.e. 1 lakh but for E-rickshaws there will be no capping.
  • In the next three years, half of the state own buses will change from CNG to Electric buses.
  • Currently, the Delhi government starts the induction by adding 1000 electric buses in their fleet by the end of the year 2020.

Scrapping Policy

  • Most of the people in Delhi have old petrol/diesel vehicles which are the main source of pollution. So what people can do is the old vehicle can be exchanged with a new electric vehicle. This will reduce the cost of the new vehicle further.
  • For the first time in the country, the scrapping incentive will be given to the people their vehicles,” said C.M.

Loans For Electric Vehicles

  • The Delhi Government is providing the loans at very low-interest rates for those who want to purchase the electric vehicles. Also, no fees will be taken for registration and road tax for the electric vehicle only.

Charging of Vehicles

  • There will be 200 charging stations to charge your electric vehicles all over the Delhi.
  • The distance between the charging stations will be 3 Km.

This is all about the Electric Vehicle Policy this will not reduce air pollution but increase the demand for electric vehicles.

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