Government to Provide Subsidies & Incentives for Electric Vehicles
The government will also provide subsidies for setting up of e-vehicle charging infrastructure
Incentives for electric vehicles in public transport too
The government has finalised the second phase of FAME India scheme. The scheme will include an investment of Rs 5,500 crore over the next 5 years as well as provide subsidy support for all kinds of electric vehicles — 2,3 and 4 wheelers.
Read more about the benefits under this scheme on Making smalltalk.
A senior government official said that the government is considering providing subsidy for encouraging the setting up of e-vehicle charging infrastructure under a policy, to be unveiled in the near future. The government has already clarified that setting up charging infra does not need a licence as it is service oriented activity.
The Electric Mobility smallcase comprises companies that are investing in the electric vehicle ecosystem and are expected to grow with growth in electric mobility. You can invest in the smallcase to get exposure to the electric vehicle ecosystem in India.
Indian digital sector projected to reach $1 trillion
The Indian telecom sector witnessed a watershed moment recently with teledensity touching 93.6%. This is a drastic growth from the 75% teledensity recorded in June 2014. The mobile internet subscriber base doubled from 233 million in March 2014 to 425 million in December 2017, clocking 75% rise in overall internet coverage. Broadband access has grown seven times, from 61 million subscribers in March 2014 to 412 million subscribers in March 2018.
Read more about how steps taken by the government are driving growth in this sector.
India’s digital sector has been projected to reach $1 trillion and create 75 million jobs by 2025. Evidence of growth of digital adoption can be seen in banking sector. Mobile banking transactions have doubled between October 2017 and June, when they crossed the 300-million mark to clock over 306 million transactions. With the possibility of the government announcing a 5G policy by end of December 2018 being high, growth of the digital sector is set to acquire pace in the near future. You can benefit from this trend by investing with the Digital Inclusion smallcase.
