Government Launches PM E-Drive Subsidy Scheme
ECONOMY & POLICY

Government Launches PM E-Drive Subsidy Scheme

The Indian government has officially notified the PM E-Drive subsidy scheme, with a substantial outlay of ?10,900 crore aimed at promoting the adoption of electric vehicles (EVs) across the nation. This initiative is part of a broader effort to encourage sustainable transportation solutions and reduce greenhouse gas emissions associated with fossil fuel consumption. The scheme will facilitate incentives for both manufacturers and consumers, making EVs more accessible and affordable.

By investing in the development of charging infrastructure and incentivizing local manufacturing, the government aims to enhance the overall ecosystem for electric mobility. This program aligns with India’s commitment to achieving net-zero emissions by 2070 and underscores the importance of transitioning to cleaner energy sources in the transport sector.

Additionally, the PM E-Drive scheme is expected to create significant employment opportunities in the green technology sector while also supporting the nation's economy. The anticipated rise in EV adoption will lead to decreased dependence on imported fuels, bolstering India's energy security.

As awareness of climate change grows, this initiative represents a critical step towards a more sustainable future. The government encourages consumers to consider electric vehicles as viable alternatives to traditional vehicles, thereby contributing to the reduction of air pollution in urban areas.

Overall, the PM E-Drive subsidy scheme is a pivotal move in India's journey towards sustainable development and a greener economy, benefiting both consumers and the environment.

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

The Indian government has officially notified the PM E-Drive subsidy scheme, with a substantial outlay of ?10,900 crore aimed at promoting the adoption of electric vehicles (EVs) across the nation. This initiative is part of a broader effort to encourage sustainable transportation solutions and reduce greenhouse gas emissions associated with fossil fuel consumption. The scheme will facilitate incentives for both manufacturers and consumers, making EVs more accessible and affordable. By investing in the development of charging infrastructure and incentivizing local manufacturing, the government aims to enhance the overall ecosystem for electric mobility. This program aligns with India’s commitment to achieving net-zero emissions by 2070 and underscores the importance of transitioning to cleaner energy sources in the transport sector. Additionally, the PM E-Drive scheme is expected to create significant employment opportunities in the green technology sector while also supporting the nation's economy. The anticipated rise in EV adoption will lead to decreased dependence on imported fuels, bolstering India's energy security. As awareness of climate change grows, this initiative represents a critical step towards a more sustainable future. The government encourages consumers to consider electric vehicles as viable alternatives to traditional vehicles, thereby contributing to the reduction of air pollution in urban areas. Overall, the PM E-Drive subsidy scheme is a pivotal move in India's journey towards sustainable development and a greener economy, benefiting both consumers and the environment.

Next Story
Building Material

Ambuja to join alliance for Industry Decarbonisation

Adani Group's Ambuja Cements announced that it had joined the Alliance for Industry Decarbonisation (AFID), a global collective aimed at accelerating the Net Zero transition in line with the Paris Agreement. According to the statement, Ambuja is the first cement manufacturer globally to join AFID, a platform for exchanging insights and experiences among stakeholders in energy-intensive industries. The company revealed its goal of achieving Net Zero by 2050, with targets validated by the Science Based Targets initiative (SBTi). Ambuja has also committed to investing Rs 100 billion in renewable ..

Next Story
Infrastructure Urban

Maharashtra revises stamp duty rates

A cash-strapped Mahayuti government – burdened with spiralling loans, budgetary provisions for populist schemes such as Ladki Bahin, Ladka Bhau and all – has decided to revise stamp duty rates, a move likely to add Rs 20 billion to its kitty. The decision will change stamp duty structure ranging from a small sum such as Rs 100 – which until now, was applicable for the registration of documents – to an unspecified amount, depending on the value of the amount involved in awarding work contracts, amalgamation, restructuring, division and mergers. The state cabinet decision, taken on Monda..

Next Story
Real Estate

MHADA sends 1,200 notices to developers

The Maharashtra Housing and Area Development Authority (MHADA) has issued approximately 1,200 notices to various developers and housing societies in Mumbai as part of its initiative to take control of stalled redevelopment projects on their properties. This move follows an amendment to the Maharashtra Housing and Area Development Act of 1976, which granted MHADA the authority to independently oversee redevelopment on its plots when developers and residents fail to propose any plans for residential building redevelopment, regardless of the reasons for the failure, such as disputes or ongoing li..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000