Haryana approves state EV policy

Haryana government has approved the state Electric Vehicle (EV) Policy 2022. The EV policy covers various financial incentives to EV manufacturers by giving incentives on fixed capital investment (FCI), net SGST, stamp duty, employment generation, etc. The policy offers 100 percent reimbursement of stamp duty along with exemption in electricity duty for a period of 20 years. The SGST reimbursement shall be 50 percent of the applicable net SGST for a period of 10 years. 

Under the policy, units setting up batteries disposal units will get 15 percent of FCI up to Rs 10 million. The policy also provides for employment generation subsidy of Rs 48,000 per employee per annum for 10 years for manpower to be employed in EV companies. Efforts are being made to transform 100 percent of the bus fleet owned by Haryana State Transport undertakings into electric buses or other non-fossil-fuel-based technologies by 2030. The cities of Gurugram and Faridabad will be declared as model electric mobility cities with phase-wise goals to adopt EVs.

Year 2022 will be declared as “Year of the Electric Vehicles” in Haryana. The policy provides early bird direct benefit transfer up to Rs 1 million on purchase of Electric Vehicles or Hybrid electric Vehicles in the state. Buyers will also be eligible for relaxation in registration fee and discount on Motor Vehicle Tax. Research and Development (R&D) in the field of EVs will also be encouraged.

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