Delhi government to offer interest subvention of 5 per cent for EV policy

The Delhi government plans to offer an interest subvention of up to 5 per cent through the Delhi Finance Corporation (DFC) on purchase of electric vehicles (EVs) in the city.

This has been done to encourage the government’s policy of offering financial incentives on EVs and to persuade vehicle owners to convert their fleet to electric. The state government is urging commercial vehicle owners to convert half of their fleet to EVs by 2023. As per the state transport department, EVs will be allowed to work beyond restricted time and even on restricted roads as against the current restriction to plying of goods carriers on Delhi roads during peak hours, to avoid congestion. Additionally, Delhi government has claimed to have offered an incentive of up to Rs 30,000 for two-wheelers, auto-rickshaws and e-rickshaw, and up to Rs 1.5 lakh for goods carrier vehicles and cars.

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