Buy Electric Vehicle Before July 31, This State Is Going To End The Subsidy Policy

In order to encourage electric vehicles, many states across the country had announced various subsidies for their purchase. Now the news is coming that the Goa government has decided to shut it down. With this announcement, there will be no subsidy of any kind on the purchase of any electric scooter, bike, three-wheeler and four-wheeler in Goa. At the same time, the current offer is valid only till July 31, 2022.

Goa is the first state to do so

Goa has become the first state in India to do so as soon as it decided to remove the subsidy from EVs. The Department of New and Renewal has informed that the government is discontinuing the scheme to "Promote Electric Vehicles in the State of Goa" with effect from July 31, 2022. Electric two-wheelers, three-wheelers, and four-wheelers purchased after December 2021 and up to July 31, 2022, will be eligible for the subsidy given in the scheme.

What was Goa's subsidy policy?

Under the Goa State EV Subsidy to be given by the Goa government in the financial year 2021-2022, a subsidy of up to Rs 10,000 per kWh was given on the purchase of electric vehicles. At the same time, the subsidy for electric two-wheelers was reduced to Rs 8,000 per kWh in the financial year 2022-2023. This subsidy was capped at a maximum of Rs 30,000, and only 3,000 electric two-wheelers could avail of this subsidy every month.

The subsidy was also available under the FAME-II policy

Buying electric vehicles in Goa was also subsidized under the FAME-II policy. Vehicles whose parameters like top speed, per charge, range and low energy consumption fall within the prescribed norms are given the benefit of the FAME-II policy. Thus, electric scooters that offer a range of at least 80 km on a single charge and a top speed of at least 40 km per hour are covered under this policy.