Can We Leapfrog Into Electric Vehicles? | #MBAIITKanpur
In the recent budget speech, Finance minister announced tax incentive on loans taken to purchase EVs apart from reducing the GST rate for them from 12% to 5% to encourage the sales of EVs thereby speeding up the transition from IC engine-driven vehicles to electric mobility. The goal is to be completely electric by 2030 and NITI Ayog has pointed that it is imperative to fix realistic time frame by which scooters, motorcycles, three-wheel carriages and, later, all new vehicles will be battery powered if we wish to meet 2030 deadline. Well even though the recent measures announced by the government are welcome and for sure will boost the sales of EVs and encourage firms to invest in new technologies it is important to take a holistic approach and not rush through.







