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Union Budget 2019-2020

legislation type Executive
Passed in 2019
The budget presented by the government for the period 2019-2020 notably scales upward the incentives to encourage faster adoption of electric vehicles. These incentives include upfront schemes on purchase and charging infrastructure, as well as tax rebates on interest paid on loans through an income tax deduction, GST tax rate reduced to 5% instead of 12%.

The measures focus on battery-operated vehicles targeted by the Phase-II of FAME scheme, approved on March 8, 2019 by an office memorandum. They target two-wheeler, three-wheeler and four-wheeler categories. 

The 2022 budget's draft adopts higher support for the production of high-efficiency solar module manufacturing and battery swapping. 


from the Grantham Research Institute
from the Grantham Research Institute
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