Paper Title :Role of Incentives in Promoting Electric Vehicle Among Indian Consumers

Author :Yashpal Malik, Nirupama Prakash, Ajay Kapoor

Article Citation :Yashpal Malik ,Nirupama Prakash ,Ajay Kapoor , (2016 ) " Role of Incentives in Promoting Electric Vehicle Among Indian Consumers " , International Journal of Management and Applied Science (IJMAS) , pp. 45-50, Volume-2,Issue-8

Abstract : In recent years, transportation system has played an important role in everyone’s life and has become an integral part of their life. Frequent travels related to work and leisure has become a common phenomenon and with growing prosperity this trend is going to continue. As the use of automobiles is increasing, this creates demand pressure for fuel, because of that prices of fuel get also boost up which ultimately affects the environment. Over the past few years, fluctuate price of fossil fuels, technology improvement in motor and battery technology, climate changes have accelerated the need for electrification of transportation. Realizing the potential in Alternate Energy Transport, the Indian Government also launched Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME) scheme to provide incentives for two wheelers and four wheelers. This scheme is part of NEMMP and expected to provide support of Rs. 795 crore for the financial year of 2015-16 and 2016-17. This study attempts to find out the role of such incentives in the promotion of Electric vehicle. It was found that, infusion of capital support and government subsidies can play a key role in acquiring the new customers and establishing the market for electric vehicles in the Indian market. Various subsidies such as exemption from local and state tax, waiving the road tax, exemption from toll taxes and parking charges, access to bus lanes can push the demand for such vehicles. Keywords – Electric Vehicle, Incentives, Tax Exemptions, Public Policy, Alternate energy transport.

Type : Research paper

Published : Volume-2,Issue-8

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