The central government has asked GST council for the reduction of tax rate on electric vehicles from 12 per cent to 5 per cent as well. In the Budget 2019 announced on Friday, Nirmala Sitharaman, the Finance Minister, confirmed a lucrative tax exemption for people purchasing electric cars on loan. The government will exempt Rs. […]
Budget 2019: Customs duty exemption on parts of electric vehicles
This would help in bringing down the cost of electric vehicles and thus help boost EV sales. In order to encourage the use of electric vehicles, Finance Minister Nirmala Sitharaman announced customs duty exemption on certain parts of electric vehicle. With a focus on incentivising e-mobility, the government announced a number of measures including income […]
Union Budget Envisions India As A Global Hub For Manufacturing Electric Vehicles
Union Budget envisions India as a global hub for manufacturing electric vehicles Says inclusion of solar storage batteries and charging infrastructure in the fame scheme will Boost production Government has sought lowering of GST on electric vehicles from 12% to 5% Union Budget says government will provide additional income tax deduction of Rs 1.5 Lakh […]
Union Budget 2019: Govt’s initiatives will boost adoption of electric vehicles, writes Gaurav Karnik of EY India
The 2019 Union Budget has pushed significantly for adoption of electric vehicles and clean technologies as well as the infrastructure needed to make the EV dream a reality. In order to boost demand for EVs the government has provided an interest deduction of up to Rs 1.5 lakh on loans taken for purchase of a […]
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 […]
Union Budget 2019: Centre to implement ‘One Nation, One Power’ grid to end India’s power woes
The Narendra Modi government is looking to implement ‘One Nation, One Power’ grid in the power sector, to ensure power connectivity to states at affordable rates, union finance minister Nirmala Sitharaman said in the union budget announcement on Friday in the Parliament. A package for power sector tariff and structural reforms to the sector will […]
Budget 2019: No to carbon emissions, Nirmala Sitharaman promises Rs 10,000 crore push for e-vehicles
Finance Minister Nirmala Sitharaman on Friday said during her Budget speech that the Centre is looking at giving a big push to e-vehicles. in her maiden speech, Finance Minister Nirmala Sitharaman gave a big push to electronic vehicles as a means to reduce carbon emissions and air pollution. Sitharaman said Rs 10,000 crore has been […]
India to host one of the world’s largest renewable energy expansion programmes
Globally India stands 4th in wind power, 5th in solar power and 5th in overall renewable power installed capacity. Nirmala Sitharaman, the Minister for Finance and Corporate Affairs tabled the Economic Survey 2019 in parliament on Thursday. According to the Survey data, renewable energy sources are a strategical national resource. The report quotes “Harnessing these […]
OPINION| From Electric Vehicles Subsidy to Ending Crop Burning, How Budget Can Help Clean India’s Apocalyptic Air
Union Budget 2019 is expected to highlight the government’s intent on reviving growth. However, failure to urgently act on air pollution can derail these efforts by jeopardising public health, agricultural productivity, and sustainable development. The Union Budget 2019-20 will be important for reasons more than one. It will be the first annual financial statement of […]
Budget wishlist: Funds for basic and applied research, capital for energy storage
CEEW Centre for Energy Finance’s Kanika Chawla feels that India’s energy transition is well on its way. The wait for the NDA 2.0’s first Union Budget has the corporate world buzzing with expectations. From allocation of funds towards research to support for renewable energy deployment, there’s a lot riding on Finance Minister Nirmala Sitharaman’s maiden […]