Limit diesel, petrol vehicles encourage electric vehicles : NITI Aayog

NITI Aayog on Friday pitched for restricting the registration of diesel and petrol vehicles saying that the adoption of electric and shared vehicles could save USD 60 billion in fuel cost by 2030.

A report prepared by NITI Aayog and Rocky Mountain Institute has suggested that the government should limit the registration of 'conventional vehicles' through public lotteries and complement this measure by giving preference to electric vehicles (EVs) as is being done in China.

It also suggested that government should consider more tax incentives to promote EVs so that they can be made available to people at reduced cost.

It said EVs should also be provided free parking.

The report estimates that India can conservatively save up to 64 per cent of anticipated passenger mobility-related energy demand and 37 per cent of carbon emission by 2030.

"By 2030, this would result in an annual diesel and petrol reduction of 156 million tonnes of oil equivalent," said the report, 'India Leaps Ahead: Transformative Mobility Solution'.

"At current oil prices, this would imply a net usual fuel cost saving of approximately 3.9 lakh crore by 2030," the report added.

Releasing the report, NITI Aayog CEO Amitabh Kant said whether ones likes it or not EVs will happen in India and this is inevitable.

Odisha govt to set up Information Technology Investment Region

Bhubaneswar: Odisha Chief Minister Naveen Patnaik on Thursday said the government has proposed to set up an Electronics System Design and Manufacturin...

India growth story credible; GDP to grow at 7.3% in FY19: World Bank

New Delhi: The World Bank on Wednesday said that Indian economy is "credible" and expected to grow at 7.3 percent in FY 2018-19 and 7.5 percent in FY ...

PNB scam fallout: RBI bars banks from issuing LoUs, LoCs

Mumbai: RBI has barred banks from issuing guarantees in the form of letters of undertaking (LoU) as it clamped down on the import financing route used...

SBI reduces charges on non-maintenance of minimum balance

Mumbai: The State Bank of India today reduced its charges on non-maintenance of an average monthly balance (AMB) in savings account by up to 75 per ce...