Odisha Cabinet, cabinet approval, Electric Vehicle Policy, latest national news updates, electric ve

Odisha Cabinet, cabinet approval, Electric Vehicle Policy, latest national news updates, electric ve
Image Source : FREEPIK.COM.

Odisha Cabinet approves Electric Vehicle Policy.

In order to advertise electrical autos within the state, the Odisha Cabinet on Friday accepted the Electric Vehicle Policy, 2021. With an goal to realize adoption of 20 per cent battery-operated electrical autos in all automobile registrations by 2025, the Cabinet headed by Chief Minister Naveen Patnaik accepted the EV coverage, Chief Secretary S.C. Mahapatra stated.

The coverage will promote the manufacturing of electrical autos and their elements and facilitate analysis and growth (R&D) within the areas regarding EVs and battery, he stated.

The state authorities has determined to increase monetary incentives for the manufacturing industries, consumers, together with curiosity subvention in loans, and waiving of highway tax and registration charges throughout the coverage interval (5 years). It has additionally determined to provide incentives underneath the Startup Policy.

Under the coverage, the federal government has given 100 per cent exemption in highway tax and registration charges on EVs bought inside Odisha. The state will present 15 per cent subsidy — a most of Rs 5,000 for two-wheelers, Rs 12,000 for three-wheelers, and Rs one lakh for four-wheelers — on the bottom worth, officers stated.

State authorities staff can avail 100 per cent interest-free mortgage for buying EVs within the state. A subsidy of 10 per cent (most restrict of Rs 20 lakh per automobile) will likely be offered to the consumers for passenger buses registered within the state.

All small and micro EV battery manufacturing models will get capital funding topic to an higher restrict of Rs 1 crore. For models run by a SC, ST, PwD, girls, technical diploma/diploma holder, the higher restrict is Rs 1.25 crore.

Additional capital funding subsidy of 5 per cent will likely be offered if the unit is about up within the industrially backward districts, together with the KBK area.

The Cabinet additionally accepted the Odisha Sand Policy, 2021 as a way to guarantee sustainable mining of sand within the state.

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