100% Tax exemption on electric vehicles in Tamil Nadu - MAINS QUESTION - DAILY CURRENT AFFAIR QUESTIONS AND ANSWERS

Saturday, November 7, 2020

100% Tax exemption on electric vehicles in Tamil Nadu

Tax exemption on electric vehicles in Tamil Nadu

Tamil Nadu government has recently announced to provide 100% tax exemption for electric vehicles (EV) motor vehicle. Earlier, the state government had issued orders for a 50% concessional rate for EV taxes.

Important key points Key points

- The state government has provided tax exemption in both transport and non-transport vehicle categories.

- Govt. EV Manufacturing Units to Promote Manufacturing of Electric Vehicles in the State and also offers 100% GST reimbursement and 50% capital subsidy.

- In addition, there is a plan to set up an EV park in the state. This will be result in 1,50,000 jobs in the state.

- Currently there are 4.82 million two-wheelers and 1.71 million passengers in the state. 

- It accounts for 35% of the country's auto components production.


National Electric Mobility Mission (NEMM):

This mission was introduced in 2013 to promote hybrid and electric vehicles to ensure energy security. Under this mission , the government has targeted to keep 30% electrified vehicles by 2030.

 Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME). 


FAME scheme was launched in 2015, under the National Electric Mobility Mission (NEMM). Its main objective is to promote eco friendly vehicles in the country. It is operated by Ministry of Heavy Industries. It focuses on 4 areas - technology development, demand generation, pilot projects and infrastructure construction. Under this, subsidy was given for 10 lakh two-wheelers, 5 lakh auto-rickshaws, 55000 four wheelers and 7000 buses. 2700 charging stations will be set up in cities with a population of more than 10 lakh.

Note:

Many states in India are now focusing on electric vehicles. Delhi Government released Electric Vehicle policy  2020 in August 2020.

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