GOVT PLANS RS 20,000-CRORE EV INCENTIVE SCHEME FOR PRIVATE BUSES AMID FUEL SECURITY WORRIES; UP TO RS 20,000 CRORE OUTLAY OVER FIVE YEARS

1. The Centre is planning a ₹20,000 crore incentive scheme over the next five years to accelerate the adoption of electric buses by private fleet operators, extending EV support beyond state-run transport undertakings. Private operators account for nearly 87% of India’s bus fleet. 2. The proposed scheme aims to address fuel security concerns by reducing dependence on imported fossil fuels while boosting EV adoption. Incentives are expected to include financial support such as capital subsidies, interest subvention, and credit guarantees to improve the economics of electric bus ownership. $JBMA $OLECTRA