
2019-07-10T04:08:05
The Budget of 2019 saw the government make yet another push towards Electric Vehicles. GST rates on Electric Vehicles were reduced from 12% to 5% making Electric Vehicles more affordable. Additionally, the government also announced an income tax benefit of Rs. 1.5 lakhs on interest paid on loans taken for Electric Vehicles. For the incentive scheme known as FAME which covers Electric Vehicles as well as Electric Vehicle Charging Stations got a budgetary sanction of Rs. 10, 000 crores in the budget.
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