Government re-launches ambitious EV Scheme targeting 25% new registrations

In a renewed push towards Electric vehicles (EVs), the government has relaunched its scheme, aspiring for a significant 25% of new registrations in the state to be EVs this year. Announced recently, the scheme encompasses financial incentives, offering a flat rate subsidy of Rs 8,000 per vehicle for all types of EVs, including the retrofitting of Internal Combustion Engine (ICE) vehicles.

The scheme, in effect from August 1, 2022, to December 31, 2024, operates on a first-come, first-served basis. EV owners stand to benefit further by availing incentives under distinct categories, such as retrofitting, scrapping, or e-registering an ICE vehicle. The maximum subsidy caps at Rs 15,000 for two-wheelers, Rs 60,000 for three-wheelers, and Rs one lakh for electric cars.

Highlighting the potential for increased subsidies, the government emphasises that these fiscal incentives complement those available in the FAME India Phase-II Scheme by the Union government. To avail themselves of these benefits, beneficiaries must submit an online application through the Goa Energy Development Agency (GEDA). Beyond boosting EV adoption, the scheme aims to enhance air quality by curbing greenhouse gas emissions and reducing noise levels.

Goa, currently ranking 15th globally in terms of vehicle density, strives to address environmental concerns through this initiative. The government envisions the scheme not only fostering a shift to Battery Electric Vehicles (BEVs) but also creating job opportunities in driving, selling, financing, servicing, retrofitting, and charging of EVs, thereby contributing to comprehensive economic growth.

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