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<ul><li>As part of its new policy to promote electric vehicles, the Telangana government will offer 100% exemption of road tax and registration fee purchased and registered within the state. </li><li>The policy to promote electric vehicles in the state will be effective until 2030. </li><li>Incentives include road tax exemption for first two lakh electric two-wheelers, capital and power tariff subsidies, among others. </li></ul>Telangana Ministers KT Rama Rao and Ajay Kumar have launched the policy to promote electric vehicles in the state. The policy will be effective until 2030. As part of its new policy to promote electric vehicles, the Telangana government will offer 100% exemption of road tax and registration fee purchased and registered within the state, according to the <a href="https://invest.telangana.gov.in/wp-content/uploads/2020/10/TS-EV-ESS-Policy.pdf">State Electric Vehicle and Energy Storage Policy</a>. “To make Telangana a major base for EV and ESS (<keyword id="1609428" type="ORGANIZATION" weightage="20" keywordseo="energy-storage">energy storage</keyword> system) sectors and to attract investments worth $4 billion and create employment for 120,000 persons by 2030 through EVs in shared mobility, charging infrastructure development and EV and ESS manufacturing activities,” the policy said. <div type="twitter" handle="MinisterKTR" handlename="Minister for IT, Industries, MA &amp; UD, Telangana" image="http://pbs.twimg.com/profile_images/1048807734848643073/XjSa3JEv_normal.jpg" favoritecount="107" retweetcount="23" status="Live: Minister @KTRTRS speaking after unveiling Telangana Electric Vehicle and Energy Storage Policy 2020-2030 https://t.co/osw75Gc1iT" createdat="1604038042000" id="1322057488112365568"></div> Following are the demand side incentives proposed under the Telangana State <keyword id="10193780" type="UNKNOWN" weightage="20" keywordseo="electric-vehicle-and-energy-storage-policy">Electric Vehicle and Energy Storage Policy</keyword> 2020 – 2030 to incentivize usage of Electric Vehicles in the state of Telangana. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Segment </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Incentives offered </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Electric Two Wheelers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100% exemption of road tax &amp; registration fee for the first 2,00,000 electric 2 wheelers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Electric Three-seater Auto-Rickshaws </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100% exemption of road tax &amp; registration fee for first 20,000 electric 3 wheelers. Retro-fitment incentive at 15% of the retro-fitment cost. </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Electric 4-Wheeler commercial passenger vehicles </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100% exemption of road tax &amp; registration fee for the first 5,000 electric 4-wheeler commercial passenger vehicles such as Taxi, Tourist Cabs, etc </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Light Goods Carriers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100% exemption of road tax &amp; registration fee for first 10,000 Electric three-wheeler (goods), e-carriers as well as electric Light Goods carriers. </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Private Cars </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100% exemption of road tax &amp; registration fee for the first 5,000 Electric 4-Wheeler private vehicles. </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buses </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100% exemption of road tax &amp; registration fee for the first 500 Electric buses. </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tractors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100% exemption of road tax &amp; registration fee shall be applicable for electric tractors. </td></tr></tbody></table> The policy also called for developing Telangana as a global centre for cutting-edge research and innovation in electric vehicles, battery technologies and other emerging technologies such as autonomous/ connected vehicles. The government will extend tailor-made benefits to mega and strategic projects on a case to case basis. Investment of more than ₹200 crore in plant and machinery or providing employment to more than 1,000 people shall be categorised as megaproject. "Telangana has come out with an extremely comprehensive policy. We also ensured that energy story policy is clubbed in with the EV policy because these two are tight-knit ideas which need to work cohesively...we have taken a pragmatic approach while designing this policy and consulted industry leaders," Rama Rao after unveiling the policy. The government on Friday signed MoUs with five firms that are set to invest in the EV space. (with wires input) SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/cricketer-yuvraj-singh-invests-in-nutrition-based-healthtech-startup-wellversed/articleshow/78945260.cms" data-type="tilCustomLink">Cricketer Yuvraj Singh invests in nutrition-based healthtech startup Wellversed</a> <a href="https://www.businessinsider.in/tech/news/the-big-4-tech-companies-amazon-apple-facebook-and-google-blew-past-wall-street-estimates-in-their-latest-quarter-earnings-reports/articleshow/78942589.cms" data-type="tilCustomLink">The Big 4 tech companies — Amazon, Apple, Facebook, and Google — blew past Wall Street estimates in their latest-quarter earnings reports</a>

Telangana launches ‘electric vehicle and energy storage policy’ — first 2 lakh electric two-wheelers exempted from road tax

<ul><li>The nascent <keyword id="4738498" type="General" weightage="20" keywordseo="ev-industry" source="Orion">EV industry</keyword> in India has seen a lot of buzz over the last year, largely due to the launch of new electric scooters and bikes.</li><li>While the government has been trying to push EV adoption via FAME subsidies, the industry believes more needs to be done.</li><li>Here’s everything that the EV industry wants from <keyword id="10547300" type="General" weightage="20" keywordseo="budget-2022" source="Orion">Budget 2022</keyword>.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them.</li></ul> Electric vehicles (EVs) could very well be the future of transportation, but their adoption in India remains a challenge for both the companies making electric cars and scooters, and consumers who want to shift away from the regular petrol/diesel-based options. With the Budget 2022 just a few days away, Business Insider spoke to industry leaders to understand the state of adoption of EVs and what the industry needs going forward. <cmsannotation type="cmsannotation" annotationid="What the industry expects from Budget 2022 for the EV sector" comment="subhead" text="What the industry expects from Budget 2022 for the EV sector">What the industry expects from Budget 2022 for the EV sector</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Tax structure rationalisation and a stable policy regime" comment="subhead" text="Tax structure rationalisation and a stable policy regime">Tax structure rationalisation and a stable policy regime</cmsannotation> “Burdened under high duties, GST [goods and services tax], cess and registration costs, we urge the government to rationalise the entire tax structure, which eventually will lead to higher volumes for the industry,” said Balbir Singh Dhillon, head of Audi India, urging the government to also come up with a stable policy regime which is essential for industries like auto which have long lead times. <div type="Article" hostid="261" msid="89119184" title="Here’s how much buying and owning an electric scooter costs in India versus a petrol scooter" mstype="2" mssubtype="0"></div> Another issue that ails the EV sector is that while the final products – that is, the electric cars, bikes and scooters – are taxed at 5%, components like battery packs are taxed at a significantly higher rate of 18%. While this not only increases the cost for the average consumer, it also leads to an invested tax structure wherein companies end up with their funds stuck in the tax system, reducing their liquidity in the process. “Due to the inverted tax structure that currently exists (where EVs are taxed at 5% and battery packs alone at 18%). Several constraints are placed on new OEMs [original equipment manufacturer] as well as the development of new models like Battery-as-a-Service,” Arun Vinayak, co-founder and chief executive officer (CEO) of Exponent Energy, told Business Insider. <cmsannotation type="cmsannotation" annotationid="Bringing down GST to make electric vehicles more lucrative" comment="subhead" text="Bringing down GST to make electric vehicles more lucrative">Bringing down GST to make electric vehicles more lucrative</cmsannotation> Making it more affordable to buy and sell used electric vehicles might be another way to boost awareness and thereby adoption of EVs, according to industry sources. CredR’s co-founder Sasidhar Nigam said “We also expect the government to reduce the GST, which is presently 18% so that there is an increased consumption in used bikes.” CredR is a portal for buying and selling used bikes. Apart from this, Nigam says that a reduction in road taxes and registration costs will also help reduce the burden on consumers. While some states like Telangana currently waive off registration charges on electric vehicles, the policy is not uniform across the country and the waiver is for a limited period or number of vehicles. <cmsannotation type="cmsannotation" annotationid="Expanding the EV charging network" comment="subhead" text="Expanding the EV charging network">Expanding the EV charging network</cmsannotation> Range anxiety remains one of the biggest challenges in adoption of EVs and industry leaders believe the government needs to step in to help alleviate this problem. One of the ways, the leaders say, is by setting up and expanding the EV charging network across the country. “Since the consumers are concerned about a general lack of charging infrastructure, the government needs to propel the sector by allocating funds to address this area of concern,” said Suhas Rajkumar, co-founder and CEO of Simple Energy. Another option worth exploring is using the existing auto industry infrastructure to double up as EV charging points. “The government should incentivise all existing auto OEMs to use their sales and distribution points, authorised service centres and manufacturing hubs as charging stations for EV vehicles,” CredR’s Nigam added. <cmsannotation type="cmsannotation" annotationid="Encouraging customer adoption via lucrative finance schemes and subsidies" comment="subhead" text="Encouraging customer adoption via lucrative finance schemes and subsidies">Encouraging customer adoption via lucrative finance schemes and subsidies</cmsannotation> Although electric vehicles can turn out to be cheaper in the long run, they are still expensive purchases even after accounting for FAME subsidies. This acts as another deterrent in their adoption. “Lucrative finance schemes and plans can add to the increased purchase power of consumers,” Nigam said. This can be done in addition to reducing the GST on components, reducing import duties, road taxes and registration charges, and offering low interest finance options. “In the interim, reducing the import duties on Li-ion cells would greatly benefit EV startups to make EVs affordable and spur consumer demand,” Exponent Energy’s Arun Vinayak said. <cmsannotation type="cmsannotation" annotationid="Subsidies for commercial sector and mandating use of EVs at tourist destinations" comment="subhead" text="Subsidies for commercial sector and mandating use of EVs at tourist destinations">Subsidies for commercial sector and mandating use of EVs at tourist destinations</cmsannotation> Lastly, the government can also push for the use of EVs in the commercial and tourism sectors, thereby reducing the carbon footprint as well as boosting EV adoption. “A strong regulatory push for electric commercial vehicles would also be a welcome move. The Union Budget may provide subsidies for using EVs for commercial and logistics purposes,” said Pushkar Singh, cofounder and CEO of LetsTransport, a last-mile logistics solutions provider. “The government can further leverage the popularity of tourist destinations by converting them into “EV Zones” and provisioning the presence of EVs for tourists travelling and exploring these popular locations,” said Sandeep Mukherjee, co-founder and CEO of B:Live, an e-bike tourism firm. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/cost-of-owning-and-running-an-electric-scooter-vs-a-petrol-scooter/articleshow/89119184.cms">Here’s how much buying and owning an electric scooter costs in India versus a petrol scooter</a> <a href="https://www.businessinsider.in/business/auto/news/this-flying-car-will-soon-make-trips-from-london-to-paris/articleshow/89110038.cms">This flying car will soon make trips from London to Paris</a> <a href="https://www.businessinsider.in/business/auto/news/tesla-india-prospects-get-a-boost-as-states-compete-with-each-other-to-invite-elon-musk-to-their-backyard/articleshow/88890951.cms">Tesla India prospects get a boost as states compete with each other to invite Elon Musk to their backyard</a>

From tax structure rationalisation to expanding EV charging infrastructure, here’s what the industry wants from Budget 2022

<ul><li>The SGX Nifty was trading 0.48% higher at 7:55 am, indicating a higher start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the Asian markets, the Indian stock market is likely to open in green. The SGX Nifty was trading 0.48% higher at 7:55 am, indicating a positive start for Nifty50. Other Asian markets were also trading in green— Hang Seng Index was up 1.34%, Australian Securities Exchange, ASX 200 was also up 0.17%. These are the stocks to watch out for during the trading session on October 12: Vedanta Vedanta on Sunday informed stock-exchanges that its buyback offer is deemed to have failed as per the terms of the delisting regulations after promoter Vedanta Resources did not receive the required number of shares to delist the firm. The shares of Vedanta closed 2% higher on Friday. Glenmark Pharmaceuticals Glenmark Pharmaceuticals on Friday said that its Umifenovir did not show superior clinical outcomes when added to Favipiravir treatment for moderate coronavirus. The shares of Glenmark Pharmaceuticals closed 2% lower on Friday. Indiabulls Housing Finance The Gurugram-headquartered mortgage lender, Indiabulls Housing Finance has raised about ₹441 crore by further selling a portion of its stake in OakNorth Holding to a US-based Riva Capital Partners V LP. The shares of Indiabulls Housing Finance closed 5% higher on Friday. Dr Lal PathLabs Dr Lal PathLabs clarified that the data breach of its patients occurred after a misconfiguration in one of its minor web applications where temporary records were stored for operational purposes, and took place at a facility managed by a third party. “It involved less than 0.5% of our records and has been successfully resolved since,” the company said. The shares of Dr Lal PathLabs closed 5% lower on Friday. RITES The engineering consultancy company, RITES has secured ₹103 crore order from project management consultancies for the construction of various buildings at IIT Delhi and for study of Multi Modal Integration Planning for Surat Metro, among others. The shares of RITES closed 0.22% higher on Friday. Premier Explosives The explosives manufacturing company, Premier Explosives said it has bagged ₹82.83 crore order from a state-run Singareni Collieries Company in Telangana for the supply of SMS/SME explosives and accessories. The shares of Premier Explosives closed 5% higher on Friday. Karnataka Bank The state-owned Karnataka Bank on Friday declared its exposure of ₹107.99 crore to Sintex Industries (SIL) as fraud. The shares of Karnataka Bank closed 2.4% higher on Friday. Mazagon Dock Shipbuilders and UTI AMC The shares of Mazagon Dock Shipbuilders and UTI AMC will list on the bourses today at 10:00 am. Mazagon Dock Shipbuilders is expected to witness a bumper listing, with grey market premium floating around ₹95-₹100. Meanwhile, UTI AMC may not see much excitement from investors, as per the current grey market premium. UTI AMC is likely to list at a <a href="https://www.ipowatch.in/2019/12/uti-amc-ipo-gmp-grey-market-premium-kostak-rates-subject-to-sauda-today.html">‘discounted’ </a>price. Wipro Watch out for Wipro ahead of its earnings and buyback announcement due tomorrow. Shalby and GNA Axles Shalby and GNA Axles are slated to report their second quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/india/news/gst-council-to-discuss-compensation-issue-for-third-time-in-a-row-on-monday/articleshow/78605574.cms" data-type="tilCustomLink">GST Council meet yet again — to discuss compensation issue for the third time today</a> <a href="https://www.businessinsider.in/business/auto/news/delhi-government-exempts-road-tax-on-battery-operated-vehicles-under-its-ev-policy/articleshow/78605311.cms" data-type="tilCustomLink">Delhi government exempts road tax on battery-operated vehicles under its EV policy</a>

Top stocks to watch — Vedanta, Wipro, RITES, Mazagon Dock, UTI AMC, Glenmark Pharma, and others

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Telangana launches ‘electric vehicle and energy storage policy’ — first 2 lakh electric two-wheelers exempted from road tax

Navdeep Yadav

From tax structure rationalisation to expanding EV charging infrastructure, here’s what the industry wants from Budget 2022

Rounak Jain

Top stocks to watch — Vedanta, Wipro, RITES, Mazagon Dock, UTI AMC, Glenmark Pharma, and others

Navdeep Yadav

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