New Delhi, March 29 (IANS) The Society of Indian Automobile Manufacturers (SIAM) on Tuesday appreciated the Delhi budget 2016-17, saying that focus on public transport and electric vehicles will help sustainable mobility.
“Finance Minister Manish Sisodia has given the much needed impetus to the electric and hybrid vehicles, which is a welcome support for this fledgling industry to develop,” SIAM said in a statement.
It also said that the budget aims to boost the public transport system and appreciated the proposal to reduce VAT rate on battery operated transport like e-rickshaw, battery operated vehicle and hybrid automobile from 12.5 percent to 5 percent.
“Sisodia announced that the Government will exempt road tax on registration of electric vehicles to promote electric and hybrid vehicles. SIAM hope that other state governments would also take note of this initiative and support development of hybrid vehicle,” it added.