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Saturday , 20 April 2024

Rs. 14,000cr subsidy plan for green cars

The Union Heavy Industries Ministry has mooted a proposal to subsidise the purchase of hybrid and electric cars. The subsidy will be the difference between the cost of the green vehicle and a conventional car. According to the proposal, a maximum subsidy of 35% will be given for purchase of pure electric vehicles and 25% for plug-in vehicles able to drive for at least 15km at a stretch. Similarly, mild hybrid vehicles will get 15% subsidy while stronger ones will get 25%. The plan is expected to result in an additional government expenditure of Rs. 14,000cr till 2020, but the savings from reduction in petrol and diesel are expected to be `60,000cr during the same period.

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