India is capable of emerging as a hub for the production of electric vehicles (EVs) [Representational image]
India is capable of emerging as a hub for the production of electric vehicles (EVs), iFinance minister Nirmala Sitharaman said.
Sitharaman, while presenting the Union Budget 2019 in the Parliament said GST rate on electric vehicles to be reduced to 5 percent from 12 percent.
"Rs 1.5 lakh tax subsidy to tax payers taking loans to buy electric vehicles," she said.
The Finance Minister also said custom duty has been exempted from certain parts of e-vehicles and some other electronic products.
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