Hey, did you hear? Government is giving away ₹ 4.5 lakhs to buy a car. I am not kidding.
Buying a car is no less than a dream for any one.
And if you buy an EV you can get subsidies on it from our government and save lakhs in fuel too!
But does it make sense for you!?
Here is how you can find out the subsidies for your choice of EV and calculate how much you can save in petrol and taxes as well:
(Links in comment)
1. ₹ 3 lakhs in Subsidy
You can get up to 3 lakhs of subsidy from the central government on buying an EV. Check the website “Fame 2 Ministry of Heavy Industry” to know if the model you choose is eligible for it.
2. ₹ 1.5 lakhs in Subsidy
Additionally, you can get up to ₹ 1.5 lakhs in subsidy from your state government. Find details of state specific policies on the E-Amrit Portal.
3. ₹ 1.5 lakhs in Tax deduction
You can also save taxes by deducting upto ₹ 1.5 lakhs paid in interest on your Loan for your EV under section 80EEB!
4. Save lakhs on Fuel cost.
Lastly, you can save thousands and lakhs of rupees in petrol or diesel cost. Check and compare the average cost for fuel on the Journey Cost Calculator available on E-Amrit portal.
The subsidies are available for 2 e-wheelers as well.
With all of these, you can simply check if an EV will help you save money or not.
So what will you choose to buy, an EV or a Petrol / Diesel vehicle?