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Going Green: Delhi Government Provides Financial Assistance For Buying Electric Cycles
Writer: Ratika Rana
Her primary objective is to inform, promote, educate and cultivate readers through writing.
Delhi, 26 May 2022 8:16 AM GMT
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Creatives : Ratika Rana
Her primary objective is to inform, promote, educate and cultivate readers through writing.
The government would provide 25 per cent assistance for e-cycles, with a maximum market cap of ₹5500 per unit. Moreover, the first 100 individual owners would also receive an additional bonus amount of ₹2,000.
The Delhi government, led by Chief Minister Arvind Kejriwal, has decided to provide financial assistance to those buying electric cycles. The demand incentive would be available for only the first 10,000 units, including personal and cargo use.
The government would provide 25 per cent assistance for e-cycles, with a maximum market cap of ₹5500 per unit. Moreover, the first 100 individual owners would also receive an additional bonus amount of ₹2,000. On the other hand, cargo buyers of e-cycles would be eligible for assistance of 33 percent of the amount, with a cap of ₹15,000.
Amount To Be Credited In 7 Working Days
NDTV reported that the applicable demand incentives shall be available for buyers (individuals and businesses) in the form of reimbursement, which will be credited to the accounts of owners by the Transport Department, based on claims made by the buyer through the OEM (Original Equipment Manufacturer) or dealer after the purchase of the e-cycles.
The incentive will be credited to the buyer's bank account within seven working days after the application is submitted through the OEM or the manufacturer. The incentives would be payable to individual buyers and businesspeople with valid GST registrations.
'Unique Model' For Every Suitable E-Cycle Model
Moreover, under the Delhi Electric Vehicle Policy, E-cargo cycles will also be eligible for a scrapping incentive of up to ₹ 3000 per e-cycle against old ICE (internal combustion engine) vehicles. The OEMs who would seek the government's financial assistance would have to register themselves with the EV Cell of the Transport Department
. The application will be processed within five working days, and if found in order, the registration of OEM and eligible e-cycle models will be confirmed. The policy mentioned that the 'unique model' would be generated for every suitable e-cycle model.
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