Price of EV Vehicle Will Become Expensive From March 31, Govet's New EV Policy

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Govt New Ev Policy

Govt New Ev Policy : If you are also planning to buy an electric vehicle. So this is the perfect time. This is because the government is going to reduce the subsidy on electric vehicles after March 31, 2024. As you can tell everyone, subsidy is being given by the Central Government on the purchase of electric vehicles under Faster Adoption and Manufacturing of Electric Vehicles (FAME-II). But now the Government of India is going to launch a new scheme in place of this scheme. Which is being called Electric Mobility Promotion Scheme (EMPS). Under this scheme, the subsidy received on purchasing electric vehicle can be reduced.

Buy EV by 31st March

If you are also interested in buying an electric vehicle. So without delay, you have to buy it by 31st March of this month. So you can take advantage of the subsidy available on electric vehicles. After this, it is expected that there will be a huge reduction in the subsidy on purchase.

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Actually, the government has made it clear that the subsidy given under the FAME-II scheme on electric vehicles will be given till March 31, 2024 or till the funds remain available.

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Currently getting subsidy up to Rs 30k

Let us tell you that currently on purchasing electrical vehicles under Fame 2 subsidy, a maximum subsidy of Rs 30,000 is being given on electric scooter and a maximum of Rs 1.5 lakh on electric car. However, this subsidy will now be available only on electric vehicles registered till March 31, 2024.

15.3 lakh electric vehicles sold in 2023

Experts say that looking at the incentives given by the government, there is a huge increase in the demand for electric vehicles. If we talk about the figures, then in 2023 the total sales of electric vehicles had reached 15.30 lakh units, whereas in 2022 it was 10.2 lakh units.

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Publish Date: March 20, 2024

Posted By Rohit Nehra

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