Adani Enterp. 2492.15↓-1.20(-0.05%)
Adani Ports 732.05↓-6.80(-0.92%)
Apollo Hospitals 4814.25↑192.30(4.16%)
Asian Paints 3240.70↑47.75(1.50%)
Axis Bank 919.70↑4.85(0.53%)
B P C L 364.55↑1.05(0.29%)
Bajaj Auto 4643.60↑76.45(1.67%)
Bajaj Finance 7040.50↑50.65(0.72%)
Bajaj Finserv 1450.15↓-0.90(-0.06%)
Bharti Airtel 827.95↓-21.95(-2.58%)
Britannia Inds. 4635.25↓-21.80(-0.47%)
Cipla 964.75↑11.70(1.23%)
Coal India 230.35↓-10.90(-4.52%)
Divi's Lab. 3525.40↑81.80(2.38%)
Dr Reddy's Labs 4552.05↑51.00(1.13%)
Eicher Motors 3716.05↑44.10(1.20%)
Grasim Inds 1702.45↓-15.90(-0.93%)
H D F C 2646.70↑6.30(0.24%)
HCL Technologies 1141.90↓-3.20(-0.28%)
HDFC Bank 1604.00↓-6.85(-0.43%)
HDFC Life Insur. 582.20↓-10.15(-1.71%)
Hero Motocorp 2800.40↑40.50(1.47%)
Hind. Unilever 2697.90↑30.35(1.14%)
Hindalco Inds. 406.35↑0.45(0.11%)
ICICI Bank 936.10↓-13.05(-1.37%)
IndusInd Bank 1290.15↑3.55(0.28%)
Infosys 1319.50↑1.20(0.09%)
ITC 439.70↓-5.80(-1.30%)
JSW Steel 693.85↓-2.45(-0.35%)
Kotak Mah. Bank 1930.05↓-84.30(-4.18%)
Larsen & Toubro 2207.80↑2.15(0.10%)
M & M 1318.90↓-0.10(-0.01%)
Maruti Suzuki 9328.30↓-39.40(-0.42%)
Nestle India 21874.30↑201.20(0.93%)
NTPC 174.40↑0.55(0.32%)
O N G C 153.65↓-1.25(-0.81%)
Power Grid Corpn 233.00↓-0.85(-0.36%)
Reliance Industr 2463.25↓-6.65(-0.27%)
SBI Life Insuran 1207.75↓-27.25(-2.21%)
St Bk of India 582.75↑2.90(0.50%)
Sun Pharma.Inds. 987.70↑12.35(1.27%)
Tata Consumer 793.65↓-5.00(-0.63%)
Tata Motors 535.20↑8.90(1.69%)
Tata Steel 105.95↑0.15(0.14%)
TCS 3324.00↑34.50(1.05%)
Tech Mahindra 1120.80↑5.25(0.47%)
Titan Company 2827.25↑4.00(0.14%)
UltraTech Cem. 7842.80↓-27.25(-0.35%)
UPL 677.95↓-7.15(-1.04%)
Wipro 407.15↑3.50(0.87%)

Finance Minister Nirmala Sitharaman's Budget charges up India EV industry

Union Budget 2019 says GST on EV will be reduced from 12% to 5% and the government will give customers tax break.

Peerzada Abrar Bengaluru

Premium

Tigor, Tata Motors' electric vehicle.

3 min read Last Updated : Jul 05 2019 | 6:31 PM IST

India’s fledgling electric vehicles (EV) industry has welcomed tax breaks and incentives in Finance Minister Nirmala Sitharaman’s Budget presented on Friday.

Sitharaman told Parliament GST on EV will be reduced from 12% to 5% and the government will provide additional income tax deduction of Rs 1.5 lakh on the interest paid on the loans taken to purchase electric vehicles.

Entrepreneurs and industry experts described as inspiring the government’s commitment of Rs 10,000 crore on FAME 2 (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles).