Electric vehicles are becoming very popular in India, leading to a rapid increase in their demand.Despite the growing interest in electric vehicles, many people hesitate to buy them due to their high price.
Meanwhile, central and state governments are actively promoting the purchase of electric vehicles.
Electric vehicles are environmentally friendly, which is why governments are encouraging their adoption.
In addition, the Uttar Pradesh government has introduced a subsidy of up to Rs 1 lakh for purchasing electric vehicles.
This government is giving subsidy
The Uttar Pradesh government has been promoting electric vehicle adoption for a long time and initially introduced an electric vehicle policy.
This policy has now been extended through 2027. Under the new electric vehicle policy from the UP government, people will receive a subsidy of Rs 1 lakh for buying an electric car and up to Rs 50,000 for purchasing an electric two-wheeler.
Subsidy for 2 lakh vehicles
The Uttar Pradesh government introduced this policy in October 2022 and has now extended it until 2027. The policy aims to provide subsidies for 2 lakh electric vehicles.
The government is also offering a subsidy of up to Rs 12,000 for electric three-wheelers and up to Rs 2 lakh for electric buses.
Recently, the government also decided to fully waive the road tax for hybrid vehicles in the state.
How much is the budget
The Uttar Pradesh government has allocated approximately Rs 350 crore for its electric vehicle policy.
Of this, Rs 100 crore is designated for electric two-wheelers, and Rs 250 crore is allocated for electric four-wheelers.
The government aims to have predominantly electric vehicles on the state’s roads by 2023.
