An official statement stated that the Electric vehicle EV policy provides different financial benefits to EV businesses through incentives on fixed capital investment (FCI), net SGST, stamp tax, employment generation, etc.
In addition to receiving a 20-year electricity duty exemption and a 100% refund of stamp duty, for a 10-year period, 50% of the applicable net SGST will be reimbursed as SGST.
The Haryana Electric Vehicle (EV) Policy, 2022 has been passed by the Haryana Government, making 2022 the “Year of the Electric Vehicles” in Haryana.
According to a press release from the Haryana government on June 27,
“The EV Policy aims to protect the environment, reduce carbon footprint, make Haryana an EV manufacturing hub, ensure skill development in the EV field, encourage EV vehicle adoption, provide EV charging infrastructure, and encourage R&D in EV technology.”
A decision was made in this respect at a state cabinet meeting that was held here under the leadership of the chief minister, Manohar Lal Khattar.
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In an official statement, it was said that the EV policy gives EV businesses different financial benefits through incentives on fixed capital investment (FCI), net SGST, stamp tax, job creation, and other things.
In Haryana, 2022 will be proclaimed the Year of Electric Vehicles. The cost of an electric car is significantly more than that of traditional fuel-based vehicles, discouraging many consumers from purchasing EVs.
According to the statement, the policy gives consumers incentives that lower the effective upfront cost and encourages people to use electric vehicles as their main form of transportation.
The Subsidiary Amount for the Mega, Small, and Medium Industries
Capital subsidies will be provided to mega industries at a rate of 20% of FCI or 20 crore rupees, whichever is less.
Subsidies will be provided to large industries at a rate of 10% of FCI up to 10 crores, medium industries at a rate of 20% of FCI up to 50 lakh rupees, small industries at a rate of 20% of FCI up to 40 lakh rupees, and micro industries at a rate of 25% of FCI up to 15 lakh rupees.
This rule says that businesses that build places to throw away batteries will get 15% of FCI up to Rs. 1 crore.
Electric vehicle policy in Haryana: SOP and advantages for producers.
- Instead of using Haryana-based labour, the strategy calls for an employment-generating subsidy of Rs. 48,000.00 per employee, every year for 10 years.
- By 2030, efforts must be made to convert all of the Haryana State Transport Undertakings’ bus fleet to electric, fuel cell, or other non-fossil-fuel-based vehicles.
- In order to attain complete e-mobility, the cities of Gurugram and Faridabad will be designated as model electric mobility (EM) cities with phase-by-phase adoption objectives for EVs and charging infrastructure.
- Additionally, in order to facilitate the overall ecosystem for the adoption of electric vehicles, the Department of Town and Country Planning (TCPO) shall mandate the inclusion of provisions for the charging of electric vehicles in locations such as group residential buildings, commercial buildings, institutional buildings, malls, metro stations, etc.
- The policy offers one-time support of 25% of book value up to Rs 2 crore for micro, small, medium, and large units to promote the conversion of current manufacturer units totally into EV production.
- When buying electric or hybrid electric vehicles in the state, the scheme would offer early bird direct benefit transfers up to Rs 10 lakh.
- Also, buyers will be able to get a discount on the price of registration and the tax on motor vehicles.
- If educational or research institutions establish R & D centres, the policy supports R & D at those institutions.
- The policy would encourage research and development in the field of electric vehicles (EVs) by giving 50% of the project cost up to Rs 1 crore for making new electric charging technology and up to Rs 5 crore for making new EV technology.
- A grant of Rs 5 crore would be given to institutions performing focused research on alternatives to fossil fuels. The first 20 colleges, ITIs, and polytechnics would each get a one-time subsidy of Rs 25 lakh for the construction of infrastructure relevant to EV R & D.
- The creation of a Center of Excellence (CoE) would be encouraged and rewarded with a grant of up to Rs 5 crore, or 50% of the project’s cost, from government agencies, public sector undertakings (PSUs), and private businesses.
There is a 20-year electricity duty exemption as well as a 100-percent stamp duty rebate.
