How to apply for electric vehicle subsidy in Assam & Haryana

HOW TO APPLY FOR ELECTRIC VEHICLE SUBSIDY IN ASSAM, HARYANA

Introduction

Electric vehicles are slowly but steadily replacing the market share of conventional vehicles. In India, it is undoubtedly true that in upcoming years the number of electric vehicles plying on the roads will increase due to an increase in the price of fossil fuels and the commitment of Govt. of India to become carbon neutral. To promote Electric Vehicles in India Govt. has been providing subsidies in different states of India. This blog will explain the electric vehicle policy and how to apply for Electric vehicle subsidy in Assam, Haryana and other states. There are still limitations of electric vehicle which i have describe in my previous blog called future of electric vehicle in developing nations.

As of now, the cost of electric vehicles in India is very high compared to the combustion engine (Petrol, Diesel) vehicles. So Central government and State government together made policies for electric vehicle purchase and subsidies.

                            Download the National Subsidy Policy

Benefits of electric vehicles:

• The First Benefit of electric vehicle is they are Eco-friendly, non-polluting and have carbon-neutral footprint.
  
  
• Electric vehicles have lower running cost compared to petrol and diesel vehicles. This means Electric vehicles can run on lithium-ion batteries and need to be recharged by means of electricity which is cheaper than petrol and diesel.
  
  
• Low maintenance cost of electric vehicles provides an edge over petrol and diesel vehicles because Electric vehicles have fewer moving parts compared to internal combustion engines. The servicing requirements for electric vehicles are lesser than the conventional petrol or diesel vehicles. Therefore, the yearly cost of running an electric vehicle is significantly low.
  
  
• Electric vehicles don’t have gears and are very convenient to drive. There are no complicated controls, just accelerate, brake, and steer. When you want to charge your vehicle, just plug it in to a home or public charger. Electric vehicles are also quiet, so they reduce the noise pollution that traditional vehicles contribute.

Mode of Subsidies on electric vehicles provided in India by Government:

• Purchase Incentives: Direct discount provided to the purchaser on the cost of the electric vehicle.
  
  
• Coupons: Financial incentive where the amount is reimbursed later.
  
  
• Road tax exemption: Road tax at the time of purchase is waived off.
  
  
• Registration fee exemption: One-time registration fee applicable on new vehicle purchases is waived off.
  
  
• Rate of Interest: Discount offered on the interest rate while availing loan.
  
  
• Income tax benefit: Provided as a deduction on the tax amount payable by an individual to the government.
  
  
• Scrapping incentives: It is Provided when the individual de-registers it's old Petrol and Diesel Vehicles.

How to Apply for Electric vehicle subsidy in Assam

On 4th September 2019, the Assam government released the Electric vehicle subsidy policy for Assam. This policy will be effective from 2021 upto five year period till 2026. This policy will benefit the Consumer, Electric charging station owners.

The EV policy of Assam aimed to achieved 25% Electric vehicle registration till 2026. This will also help in improving the air quality.

The Electric vehicle policy aim to provide benefits for developing robust infrastructure for electric vehicles including adequate power supply and network of charging points with favorable power tariff. 

Incentive for Adoption of Electric Vehicle:

The State will target and support the deployment of the first two lakh electric vehicles either under individual use or commercial use during the policy duration of 5 years. 

The segment wise target is outlined below: 

• 2 Wheelers : 100000 Units 
• 3 Wheelers : 75000 Units 
• 4 Wheelers : 25000 Units 
  
  

Apart from this government is also planning to convert commercial bus fleet and government vehicles to 100% electric buses by 2030. Also Govt. of Assam decided to Phase out all fossil fuel based commercial fleets and logistics vehicles in all cities by 2030. 

How much subsidy on Electric Vehicle (EV) Goverment of Assam provide

The incentive on the Electric vehicle is based on Battery capacity (KWH) and number of wheel. A consumer can only avail one scheme of subsidy or incentive but they can avail more than one subsidy from central government. The maximum amount of subsidy cannot exceed 40% of total cost of vehicle. 

Apart from this, there is also an Exemption/Reimbursement of registration charges and road tax on 2, 3 & 4 Wheeler Electric Vehicles for 5 years and also 100% waiver of parking charges.

• Electric vehicle subsidy in Assam can be avail during the purchasing and also the dealer can facilitate the subsidy process upon submission of Aadhar and bank detail. The subsidy amount will be reimbursed to the bank account.

APPLY FOR ELECTRIC VEHICLE SUBSIDY IN HARYANA

Electric vehicle subsidy policy in Haryana is in draft mode, the government is looking for citizen's feedback on their draft policy. As of now, there are six forms of subsidies government of haryana is planning to provide for electric vehicle purchaser.

• 30% subsidy on the road price of electric vehicle, this subsidy in Haryana will be transferred to the bank account.
  
  
• If a person is a state employee in Haryana government then they will get an additional coupon of 1 lakh on 4 wheeler electric vehicle. For 2 wheeler the subsidy is 50,000 only.
  
  
• 100% interest-free loan will be provided to state employee on electric vehicle purchase.
  
  
• There is no RTO tax on electric vehicles.
  
  
• There is no toll tax on electric vehicle.
  
  
• Electric vehicle registration will be given priority with minimum charges by RTO office.
  
  

** Please note that the Haryana electric vehicle policy is yet to be implemented.

So the government of both central and states are trying to implement an EV-friendly policy by providing subsidy on electric vehicles. Currently, during the FAME II initiative, the government is focusing on phasing out old diesel, petrol vehicles and promoting electric vehicles.

The government is also providing subsidy on electric charging stations and are partnering with major OEMs to fast-track the installation of charging stations. The future of India is looking bright in terms of electric vehicles.