Electric cars to be cheaper |
India will make Hybrid and electric vehicles cheaper as the government considers a proposal to give incentives to manufacturers in Budget 2015-16. Pushing Narendra Modi`s `Make in India` campaign, the Finance Ministry is likely to allocate Rs 800 crores in the Budget to promote manufacture and sale of electric and hybrid vehicles. Incentives will bring down the prices and help in substantial reduction of carbon dioxide emissions by about 1.5 per cent by 2020. The government will provide a subsidy of 35 per cent of the price differential l and an electric vehicle to promote the purchase of hybrid and electric vehicles. The subsidy amount will be capped at Rs 120,000 in case of cars.
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