Last Monday (27th June 2022), Haryana state received the state govt approval for the State Electric Vehicle Policies for the year 2022 along with several financial incentives for EV manufacturers. The State cabinet meeting was held under the chairmanship of Haryana’s Chief Minister MR. Manohar Lal Khattar. So finally Haryana Govt approved State EV policy 2022.
The EV policy is offering various financial incentives to EV manufacturers like
- Giving incentives on fixed capital investment (FCI)
- Net SGST
- Stamp Duty
- Employment generation
This deal includes two more benefits that includes 20-year electricity duty exemption and 100% refund of stamp duty.
For ten years, the SGST refund will be equal to 50% of the applicable net SGST. Capital subsidies will be used to reward businesses that produce electric vehicles, electric vehicle components, EV batteries, charging infrastructure, etc.
- Mega industries will receive capital subsidies at a rate of 20% of FCI or ₹20 crores. (whichever is less)
- Large industries will receive subsidies at a rate of 10% of FCI up to ₹10 crores).
- Medium industries at a rate of 20% of FCI up to ₹50 lakh
- Small industries at a rate of 20% of FCI up to ₹40 lakh
- Micro industries at a rate of 25% of FCI up to ₹15 lakh
- Units establishing battery disposal facilities will receive 15% of FCI up to ₹1 crore.
Haryana-resident workers who work for EV enterprises will receive an employment-generating subsidy of ₹48,000.000 per employee. (every year for 10 years)
To achieve complete e-mobility, the cities of Gurugram and Faridabad will be designated as “model Electric Mobility (EM) cities” with phase-by-phase adoption goals for EVs and charging infrastructure.
Additionally, to facilitate the overall ecosystem for the adoption of electric vehicles, the Department of Town and Country Planning (TCP) shall mandate the inclusion of provisions for charging electric vehicles in locations such as Group Residential buildings, commercial buildings, institutional buildings, malls, metro stations, etc. In Haryana, 2022 will be dubbed the “Year of the Electric Vehicles.”
The Cabinet meeting covered a total of 31 agenda topics. After the cabinet meeting, Khattar spoke with the media and announced that the new Haryana State Startup Policy 2022, created by the Department of Information Technology, Electronics, and Communication, had been approved by the cabinet.
When buying electric or hybrid electric vehicles in the state, the program would offer early-bird direct benefit transfers up to Rs 10 lakh. Additionally, buyers will be qualified for a reduction in the registration price and the motor vehicle tax.
By allocating 50% of the project cost up to Rs.1 crore for creating new electric charging technology and up to Rs. 5 crore for developing new electric vehicle technology, the policy will encourage research and development in the field of EVs.
If educational or research institutions establish an R&D center the policy supports R&D at those institutions.
This strategy will strengthen and support Haryana’s thriving startup community, encourage original thought and creative solutions, and support nascent businesses at various stages of development. According to the new policy, “any startup entity recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, up to a period of 10 years from the date of its incorporation or registration and with an annual turnover not exceeding Rs 100 crore and being based out of Haryana will make it eligible to avail of major fiscal and non-fiscal benefits.” The startup policy will support new businesses and open up new employment prospects.
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