The government on Tuesday said it was trying to bring out an industry-friendly new National Automotive Policy as well as a rational system of taxation for promoting electric and hybrid vehicles.
“We are going to work out a rational system of taxation for promotion of electric and hybrid vehicles in consultation with the Finance Ministry,” Department of Heavy Industry Secretary Asha Ram Sihag said.
The policy will help create a more ‘enabling’ environment for the sector besides providing stability that overseas investors seek.
The Ministry has invited stakeholder comments and is analysing them, he added.