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Business Economy


Lohia welcomes GST reduction on EVs in Budget for Fy 2019-20

Lohia welcomes GST reduction on EVs in Budget for Fy 2019-20

Hyderabad, Jul 5 (UNI) Lohia Auto Industries CEO Ayush Lohia on Friday welcomed GST reduction on Electric Vehicles (EVs) in the Budget presented by Finance Minister Nirmala Sitharaman in Lok Sabha for fiscal 2019-20.



Commenting on decision taken on Electric vehicles in the budget, Mr Lohia said, “ It is a welcoming move that the Government has reduced GST on Electric Vehicles from 12 per cent to 5 per cent, allocation of Rs 10,000 crore for faster adoption of Electric Vehicles and announcing upfront incentives for EVs.



This will help attract investment for manufacturer and ensure clean energy over the time. This decision will represent the next generation in sustainable mobility and make them an attractive alternative to consumers.



To give more boost to E-Vehicle sector, We propose a more cautious, clear and realistic road map towards the adoption of EVs and hoping more positive step will be taken by the Union government to cheer up the overall industry and consumer both”, Mr Lohia said.

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