The Government of Odisha has announced the Odisha Electric Vehicle Policy 2021 to build Odisha a model State in the promotion of Electric Vehicles through adoption, adaptation, research & development apart from facilitating growth in employment for circulation among the stakeholders and general public.
In response to the advice of NITI AYOG, the Government of Odisha has introduced the Odisha Electric Vehicle Policy 2021 to encourage the manufacturer company as well as the people for rapid adoption of Electric Vehicle in the State
The objectives of Odisha Electric Vehicle Policy 2021
- To promote the use of Electric vehicles in vehicle segments among the public in the State of Odisha by facilitating an appropriate eco-system and to achieve the adoption of 20% battery Electric Vehicles in all vehicle registrations by 2025.
- Promote manufacture of Electric Vehicles & their components including Battery in the State.
- Promote innovation and facilitate Research & Development in the state for Electric vehicles & batteries.
- To support the creation of jobs in driving, selling, financing, servicing, manufacturing, and charging of Electric Vehicle.
The validity period of the Odisha Electric Vehicle Policy 2021
The Odisha Electric Vehicle Policy 2020 shall remain valid for five years from the date of notification of this policy i.e up to 2025.
The Policy details of Odisha Electric Vehicle Policy 2021
- The fiscal incentives being offered under the policy would be in addition to the demand incentives available in the FAME India Phase-II Scheme of the Government of India.
- Financial Incentives- Purchase incentives, Scraping incentives, interest subvention in loans.
- Waver of Road tax & registration fees.
Incentive offered under Odisha Electric Vehicle Policy 2021
- 15% of subsidy avail as a purchase incentive for two-wheelers Electric Vehicle maximum amount of subsidy up to Rs. 5,000.00.
- 15% of subsidy avail as a purchase incentive for three-wheelers Electric Vehicle maximum amount of subsidy up to Rs. 12,000.00.
- 15% of subsidy avail as a purchase incentive for four-wheelers Electric Vehicle maximum amount of subsidy up to Rs. 1, 00,000.00.
- 100% interest-free loans for State Government employees for the purchase of Electric Vehicles.
- Interest subvention to the public for purchasing personal Electric Vehicles.
- 10% of subsidy (maximum limits 20 lakhs per vehicle) to the buyers for passenger buses registration in the State.
- 100% SGST on the sale of Electric Buses registered in the State will be remembered during the policy period.
- 100 % exemption on road tax & registration fees for the first four years.
- Interest subvention of 5% on loans for the purchase of Electric Buses.
Incentives for the Manufacturing Sector
- SGST reimbursement for manufacturing of Electric Vehicle in the state during the policy period.
- All the incentives will be extended under the IPR 2015 and MSME Policy 2016.
- Quantum Assistance to New Micro & Small Enterprises is 25% and up to 1 crore of Capital Investment made in plant & Machinery.
- Quantum Assistance to New Micro & Small Enterprises owned by the SC/ST/Differently abled / Women/ Technical (Degree/Diploma Entrepreneur) is 30% and up to 1.25 crore of Capital Investment made in plant & Machinery.
- Additional Capital investment subsidy @ 5% of Quantum Assistance to New Micro & Small Enterprises set up in industrially backward districts including KBK District made in plant & Machinery.
Incentive (for Charging Infrastructure)
- Grant for purchase of charging equipment up to Rs. 5,000.00 for the first 20,000 for existing residential and non-residential building owners.
- 25% of capital subsidy to the energy operators for the charger installation expenses.
- Special subsidy for the first 500 charging stations.
- 100% SGST reimbursement to the Energy Operators for swapping stations
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