West Bengal waives motor tax, registration fee, taxes for Evs, CNG powered vehicles
News: As per media sources, to promote clean fuelled vehicles, the West Bengal government has announced waiver of registration fees and related taxes on purchase of EV and CNG powered vehicles from April 1, 2022 to March 31, 2024. In the pre-Covid era, the state accounted for ~5% of industry volumes in the 2-W category and ~3% in the PV and 3-W domains.
Views: This comes as positive development as this would further reduce upfront cost of electric cars and provide greater thrust to clean mobility. This could also mean windfall gains for CNG powered vehicles with Maruti Suzuki India as the biggest beneficiary along with Tata Motors. This could imply that electric and CNG powered vehicles could be cheaper by ~5% compared to their petrol/diesel powered vehicles.