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E-vehicle sector for priority-lending, R&D incentives in Budget
TIWN
E-vehicle sector for priority-lending, R&D incentives in Budget
PHOTO : TIWN

New Delhi, June 17 (TIWN) With government committed to bringing the electric vehicle (EV) revolution to India in the next few years, the industry expectations from the Union Budget 2019-20 run high.

Among the key demands are priority-lending by PSU banks for purchase of EVs and raising government subsidy to push sales.   "Today, nobody is giving loans to electric vehicles. Some instruction should be given by the RBI to public sector banks for priority-lending to the EV sector. Then, a clean air campaign should be launched on the lines of Swachh Bharat to raise awareness," Sohinder Gill, President, Society of Manufacturers of Electric Vehicles (SMEV) told IANS.  The other proposal for the Budget is higher subsidy for people buying electric vehicles and incentives to corporates for bulk-buying of green vehicles.

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