Key highlights of budget Speech:
- Comprehensive restructuring of National Highway Programme will be carried out to ensure that the National Highway Grid of desirable length and capacity is created using financeable model.
- After completing the Phase-1 of Bharatmala, states will be helped to develop State road networks in the Phase-2 of Bharatmala.
- The Central Road and Infrastructure Cess on petrol and diesel has been raised by Re 1 per litre to give a boost to the development of Infrastructure.
- Under Phase-II of the FAME Scheme, only advanced battery and registered e-vehicles will be incentivized. Phase II of FAME has an outlay of Rs10,000 crore for a period of 3 years, and has commenced from 1st April, 2019.
- The Government has already moved GST council to lower the GST rate on electric vehicles from 12% to 5%.
- To make electric vehicles affordable to consumers, the government will provide additional income tax deduction of Rs 1.5 lakh on the interest paid on loans taken to purchase electric vehicles.
- To further incentivise e-mobility, customs duty is being exempted on certain parts of electric vehicles.
- Under the Jal Marg Vikas Project, two multi-modal terminals at Sahibganj and Haldia and a navigational lock and Farrakka would be completed this year.
