Uttar Pradesh state government releases new policy for EV charging infrastructure
Uttar Pradesh state government yesterday (6 August) approved a new policy to establish electric vehicle (EV) charging infrastructure, reports the Financial Express. A 25% rebate on the market rate of land will be offered to set up EV charging points. Under its EV policy, the state government expects to run 10,000 electric buses and phase out old ones In the first phase. By 2024, 70% of commercial vehicles are expected to be electric and 200,000 charging stations will be set up.
Significance: The Indian government has recently announced a slew of initiatives to promote the use of EVs in the country. Last month, in the Union Budget, the government reduced goods and services tax (GST) rate on EVs from 12% to 5%. Furthermore, the GST rat on EV charging stations has also been revised from 18% to 5%. Lack of charging infrastructure is currently seen as one of the key hurdles for mass adoption of EVs.
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