Bhubaneswar: The Odisha Cabinet today approved as many as 14 proposals including the electric vehicle policy for the state.

The objective of the policy is to achieve adoption of 20% electric vehicles in all vehicle registrations by 2025, to promote manufacture of electric vehicles and its components including battery in the state, promote innovation and facilitate research & development in the areas relating to electric vehicles & battery, said Chief Secretary Suresh Chandra Mahapatra.

Under the proposed policy guidelines, it has been decided to extend financial incentives such as incentives available for manufacturing industries, purchase incentives, scrapping incentives, interest subvention in loans, waiving of road tax & registration fees during the policy period. It has been decided to give incentives under the Start-up Policy of MSME Department.

As per the proposal, 15% subsidy for buying two-wheelers, three-wheelers and four-wheelers will be given with a maximum subsidy amount of Rs 5000, Rs 12000 and Rs 100000, respectively.

Other major features of the proposal:
* Interest free loans to State Government employees for purchase of Electric Vehicles.

* Government Departments/ Offices, Public Sector Undertakings will give preference to hire EVs for official use and the above purchase incentives will be applicable for the owners to purchase vehicles. The Govt. Departments/ PSUs may give further incentive on hiring charges to promote EVs.

* Municipal authorities will be encouraged to provide subsidized parking for all personal EVs. Individual cities will prepare city parking plan to encourage provisions for on-street parking places for EVs with subsidized fees and EV charging.