Budget 2018: Govt may give tax benefits to make electric vehicles alluring

Electric cars, Electric vehicles. e-cars, e-vehicles, battery, batteries

The Centre may dole out incentives to promote electric vehicles in the country by considering lower GST and extending tax benefit for buyers in this week's Budget 2018-19, say sources.

The announcement is expected in view of the government's aim to have 100 per cent electric vehicles for public mobility and 40 per cent for personal mobility by 2030.

"Finance Minister Arun Jaitley may announce tax benefits for the electric mobility in the Budget on February 1, 2018 as there has been a lot of brainstorming so far," industry sources said.

The government may lower the goods and services tax (GST) on electric vehicles from existing 12 per cent to 5 per cent, they said, adding that there could also be income tax benefits to enthuse buyers to make electric vehicles a viable and alluring option.

Comments

Post a Comment

Popular posts from this blog

Hedging gets pricey for sky-high Indian stocks before Budget 2018

Image
BUDGET 2018 - Investors in Indian shares are developing more and more aggravating after a stellar rally. The India VIX Index, which measures the cost of NSE Nifty 50 Index alternatives, has risen the maximum given that September 2016 in January, mountain climbing in tandem with the fairness gauge. while the fashion has been similar within the US and different Asian markets, it’s in particular pronounced in India, in which five instantly weeks of simultaneous profits marked a report. With Finance Minister Arun Jaitley readying to deliver the Union price range 2018 on Thursday, traders are in search of to hedge a rally that has delivered more than $425 billion in fairness values in the past 4 months. The Nifty, which has already hit thirteen statistics in January, trades at 18.four instances anticipated earnings for the next year, close to an all-time excessive and a 30 in keeping with cent top class to the MSCI Asia Pacific Index. The truth that the India VIX and Nifty have b...
Read more

Modi's Budget 2018 dilemma: Win rural voters or stick to deficit plan

Image
BUDGET 2018 - Indian high Minister Narendra Modi has a difficult balancing act in this week’s budget: preserving monetary prudence or handing out coins to placate rural electorate in advance of subsequent yr’s election. After scoring a unprecedented sovereign improve late closing year, Modi desires to maintain global traders and credit-score agencies on his aspect. Key to so one can be sticking his purpose to slim one in all Asia’s largest finances deficits. Bond traders have already concluded that Finance Minister Arun Jaitley will deviate from those plans when he supplies his price range on Thursday, with yields mountain climbing ninety six foundation factors within the beyond six months, the maximum in Asia. in the ultimate complete finances before the elections, Jaitley needs a increase boost for an economic system that’s slowing right down to a four-12 months low, while appeasing angry younger electorate, who contributed to the ruling celebration’s worst overall performa...
Read more

Budget 2018: Govt may sidestep demand for boost to maternity benefit scheme

Image
BUDGET 2018 - Demands from activists and economists for a boost within the finances allocation for the authorities's maternity advantage programme have didn't reduce ice with the Centre. The Ministry of girls and child improvement has no longer sought any increase for the Pradhan Mantri Matru Vandana Yojana (PMMVY), which promises Rs 6,000 to pregnant and lactating moms for the start in their first child, in its wishlist to Finance Minister Arun Jaitley for Union budget 2018, an reputable said. The ministry has asked for Rs 25 billion for the programme, the same as last year. An initial amount of Rs 27 billion was introduced for the scheme at some stage in Union finances 2017 however it became later revised to Rs 25 billion.
Read more