As US light vehicles sales topped 17 million in 2019 for the 5th consecutive year, Chris Hopson takes a look at the… https://t.co/YWcwD6o06a
Indian government looking to cut tax to encourage uptake of EVs
The Indian government is reportedly looking to cut goods and services tax (GST) on electric vehicles (EVs) by 5-12% to encourage their uptake, reports the Economic Times. "There is a proposal to cut tax rates on EVs among other issues," said a senior government official with knowledge of the matter. The government council will discuss the proposal in a meeting tomorrow (20 June).
Significance: Several measures, including tax cuts and incentives for EVs, are being contemplated by the government in line with its goal to expand the use of EVs in the coming years. Recently, the Niti Aayog policy think-tank proposed a new EV road map that suggested that all vehicles sold in India after 2030 should be electric. A reduction in GST would have the aim of boosting the manufacture of EVs in the country and encouraging key automakers to set up Indian vehicle production plants.
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