Home Tag "Fame II"

Auto industry gets an electric boost in FY20 Budget

Finance Minister Nirmala Sitharaman’s maiden Budget provides tax incentives and GST cuts for electric vehicles. ‘The future is electric,’ reiterates the Union Budget 2019-20. In her maiden Budget speech on Friday, Finance Minister Nirmala Sitharaman announced an income tax deduction of ₹1.5 lakh on loans for electric vehicles to incentivise their purchase. The loan is […]

FAME-II subsidy: Tata Motors hopes private electric vehicle buyers get incentives

The second phase of Faster Adoption and Manufacturing of Electric and Hybrid (FAME-II) does not provide any incentives to private car buyers of electric vehicles. Tata Motors, India’s fourth-largest carmaker, has welcomed the government’s FAME-II scheme but hopes that private buyers of electric vehicles will also get incentives in the future. While the second phase […]