Electric Vehicles Take Center Stage in India's 2024 Elections
The Congress party, vying for power in Telangana, has unveiled an enticing promise - electric scooters for girl students aged 18 and above, along with financial assistance of INR 12 lakh for SC/ST families.
October 19, 2023. By News Bureau
The Bharatiya Janata Party, under its 'Mission Connect Karnataka' has vowed to turn the state into a major EV hub by supporting around a thousand EV start-ups, installing charging stations at major highways and public places, as well as cutting an EV city on the outskirts of Bengaluru. The political party has also promised to convert Bengaluru Transport buses (BMTC) into battery-powered ones. The party has further vowed to build a Formula-circuit in Karnataka as well as exempt owners of electric vehicles from paying the registration fee and re-tax.
India, one of the world's largest automobile markets, has been ardently advocating the transition to electric vehicles for several years. The government has set an ambitious target, aiming for 30 percent EV usage by 2030.
While the Indian EV market is still in its nascent stages, it is experiencing rapid growth. In 2020, despite the challenges posed by the COVID-19 pandemic, the Indian EV market expanded by 20 percent.
To further bolster EV adoption, the government has initiated incentives and subsidies. Notably, the Goods and Services Tax (GST) on EVs has been reduced from 12 percent to 5 percent.
Additionally, various Indian states have introduced their own incentives. For instance, Delhi offers subsidies of up to INR 1.5 lakh for electric car purchases.
The shift towards electric vehicles is not only driven by environmental concerns but also by economic benefits. Electric vehicles are cheaper to operate and maintain than traditional petrol or diesel vehicles. Moreover, they can help reduce India’s dependence on imported oil and improve energy security.
As India gears up for the 2024 elections, it is clear that electric vehicles will play a crucial role in shaping the country’s future. With both major political parties promising to promote EV adoption, it is likely that we will see a significant increase in the number of electric vehicles on Indian roads in the coming years.
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