The Central government is working on measures to increase the sales of electric vehicles and in the next two years the cost of EVs in India will drop to the level of petrol vehicles, Union minister Nitin Gadkari said on Wednesday. Addressing virtually ‘TimesNow Summit’, Gadkari further said that to reduce import of fossil fuel, the government is encouraging use of alternate fuel like ethanol, CNG.
“We import 80 percent plus of our petrol and diesel requirements. We import petrol and diesel worth Rs 8 lakh crore. If we continue to depend on fossil fuels then in the next five years, our import bill will rise to Rs 25 lakh crore,” he said.
The Road Transport and Highways minister observed that due to technological development, the cost of electric vehicles will drop in India.
“We are working to increase electric vehicles sales and in the next two years, your vehicle will be electric,” Gadkari said.
The minister said that if fuel cost of a petrol vehicle per month is Rs 12,000-15,000, then in case of electric vehicle, it will be Rs 2,000.
“And in the next two years, the cost of electric vehicles in India will drop to the level of petrol vehicles,” he said.
With an aim to promote eco-friendly vehicles, the government had launched the FAME India scheme (Faster Adoption and Manufacturing of (Strong) Hybrid and Electric Vehicles in India) in 2015.
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“We import 80 per cent plus of our petrol and diesel requirements. We import petrol and diesel worth Rs 8 lakh crore. If we will continue to depend on fossil fuels then in the next five years, our import bill will rise to Rs 25 lakh crore,” he said.
Gadkari said bringing fuel and gas under GST will result in reduction in overall rates while the revenue will go up and states will also benefit. He, however, did not name the states resisting the proposal.