Nagpur: Ahead of the Union budget on February 1, Minister of Environment Aaditya Thackeray has asked the Minister of Finance Nirmala Sitharaman to introduce reforms in a big way to allow the use of larger electric vehicles (EV).
In a letter written to Sitharaman recently and what he tweeted on Wednesday, Thackeray highlighted the need to bring radical reforms in the EV sector, pointing towards 20% of the country’s toxic greenhouse gas emissions from the transportation sector.
By stating that the cumulative investment in the state EV transition can be more than RS 19 Lakh Crore between 2020 and 2030, the Minister of Writing, “Although public and private sector initiatives are the acceleration of capital deployment to fulfill this potential, retail loans to support consumers in vehicle electricity financing It has been slow to take.
Also, non-banking banks and financing companies are currently hesitant to lend these vehicles due to the risk of real and business assets.
“Thackeray recommends that the Bank of India (RBI) reserve must make priority sector loans possible for EVs.
“In addition to increasing accessibility to work and markets, EVS can save gasoline costs for users who can be used for other important roads such as health care, education, food or housing,” he added.
Emphasizing other obstacles, Thackeray states that the state supply chain ecosystem and the manufacturing process for EVS requires more international exposure.
“Pioneer companies such as Tesla, Rivian, Audi, BMW and many others must be given a time-bound customs level for import vehicles for retail sales.
This will encourage the value of aspirations in the market, increase investment in our supply chain and encourage the initial ecosystem to follow leadership Such companies, “Writing the Minister, added that a similar approach had been adopted in all developing markets throughout the world.
The next minister suggests that the level of concession can reach a maximum of three years or the import limit specified for companies that want to import vehicles for retail sales or to import international standard components.
“High import duties only increase the burden of customers and do not put the land for any industry investment because special income is not directly used for sectoral investment,” Thackeray said.
Urge Sitharaman to carry out the necessary interventions, the Minister also submitted an EV state policy aimed at leading the adoption of the EVS mass scale through the rapid spread of electric buses in public transportation, obtaining EV for the use of the government this year and expanding all possible support for the industry.