Business Today

Walking The Talk On EVs

Electric vehicles get a bonanza in Budget 2019 as government gets serious on e mobility

For an industry that is still in its infancy, the kind of attention the domestic electric vehicle (EV) industry has received in this year's Budget is unprecedented. The government has laid to rest any notion that its talk of electrification of mobility is lip service.

The bonanza is bountiful. There is an income tax deduction of Rs 1.5 lakh per annum on loans taken to buy EVs. The benefit to the customer works out to around Rs 2.5 lakh over the

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