With depleting oil resources and rising pollution, Electric Vehicles (EVs) is an alternative to a sustainable future. EV is practical, sustainable, safe and affordable. Maharashtra a preferred industrial destination has categorized Electric Vehicles manufacturing, infrastructure and servicing as a thrust sector. It aims to maximize the adoption and manufacturing of EVs in the State. For promoting the sector, the state has launched EV & Related Infrastructure Policy 2018 covering the incentives. This article highlights the parameters and incentives covered under Maharashtra’s Electric Vehicle and Related Infrastructure Policy 2018.
Electric Vehicle Sector and Incentives
Maharashtra is a backbone of Indian Economy. Infrastructure, Strategic location, available manpower makes Maharashtra a preferred destination of domestic and international market. To nurture sustainable growth along with generating employment and making Maharashtra a strong player in the evolution of manufacturing and service sector of Electric Vehicle, the government has introduced Electric Vehicle Policy 2018. To be the strongest player in the automotive revolution Maharashtra is concentrating on promotion of R & D, Innovation and Skill development centres. The state has categorised incentives into three divisions:
- Incentives for Pioneer Unit, Mega and Ultra Mega Project: Pioneer unit covers Mega unit established for manufacturing EV, its components and batteries, Mega project is where Fixed Capital Investment in A and B is Rs. 250 Cr or generate 500 employments and in other industrial area Fixed Capital Investment is Rs. 100 Cr or employment to 250 people. For Ultra Mega Project Fixed Capital Investments Rs.1500 crores or 3000 employments. Customised fiscal benefits are provided to Pioneer, Mega and Ultra Mega Projects.
- Incentives for MSMEs and Large Scale Units: The eligible units in A and B Taluka would get approved incentive under PSI for C Taluka, Other zones will be eligible for incentives at one scale higher.
- Incentives and assistance of Electric Vehicle Infrastructure (EV Charging stations): To make Electric Vehicle a success, supporting infrastructure is required, to initiate the process permission of setting common charging point at residential areas, societies, bus depots, public parking areas, railway stations and fuel pumps etc. will be allowed within 15 days from submission of application to the concerned department. After 15 days it is deemed to be permitted in case delay of reply from the department side. Residential Electricity Rate across the nation would be applicable. 25% Capital Subsidy on equipment/machinery limited upto Rs. 10 Lacs for first 250 charging stations would be given to commercial public EV charging stations.
Government is not only providing incentives to the manufacturing and service sector but is focusing on increasing EV use by way exemption from road tax and providing 15% subsidy to the first lakh EVs registered in the state. 10% subsidy to first 1000 buyers of public / private buses.
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