Back to Career News

5,645 Electric Buses Approved for 65 Cities

July 31, 2019

5,645 Electric Buses Approved for 65 Cities

This Monday, CEO of NITI Aayog Amitabh Kant said that in a bid to promote electric mobility, as many as 5,645 electric buses have been sanctioned for operations in 65 cities by an inter-ministerial panel. It’s worth noting that another move in the same interest was taken last week as finance minister Nirmala Sitharaman slashed the GST rate on electric vehicles to 5% from existing 12%.

Electric vehicles are currently exempted from customs duty and in the union budget for FY20, the Center had called for an income tax reduction of ₹1.5 lakh on the interest paid on loans taken for buying electric vehicles.

Image Source 

Recommended for you ...

Indian Tech Startups Raise $1.6 Billion in Q1 2024, Retail and Fintech Lead Growth
Indian Tech Startups Raise $1.6 Billion in Q1 2024, Retail and Fintech Lead Growth

March 28, 2024

Fintech Experts Advocate for Cohesive Regulatory Framework Amid Rapid Digitalisation of Finance
Fintech Experts Advocate for Cohesive Regulatory Framework Amid Rapid Digitalisation of Finance

March 27, 2024

Indian Payment Aggregators Rush to Obtain International Payment Licences
Indian Payment Aggregators Rush to Obtain International Payment Licences

March 27, 2024

Chat on WhatsApp