The government is planning to introduce a “payment security mechanism” in order to support the large-scale rollout of electric buses. The move is to support green public transport all over the country. On 3 August, Tarun Kapoor who is the advisor to the Prime Minister said the same in a statement to the media.
Tarun also stressed the fact that electric vehicles have to reduce their cost so that there is widespread adoption. The government is trying to put efforts to provide subsidies such as the ones provided under the FAME-II scheme as the price difference is big and the gaps have to be filled. However, that option cannot be forever and other alternatives have to be worked upon. Tarun shared the details while talking about the same in an Assocham conference on electric mobility today.
Tarun also mentioned the requirement of being more serious in battery manufacturing as imports cannot be depended on always. He said that although China is the leader in lithium-ion batteries, India can also work on the same so that the government can get access to the entire ecosystem within the nation itself. He also gave the case example of the Mines and Minerals (Regulation and Amendment) Bill enacted by Parliament in the ongoing session/ The Bill aims to support the huge participation of the private sector in mineral exploration and production, which also includes lithium. Tarun also shared how the payment security mechanism is being set up after receiving feedback that financial firms are finding it challenging to obtain lending.
He also said that something important and interesting is being planned by the government so that it will come out soon. The initiative will help to launch a large number of electric buses all over India.
In other news, the government has announced that there will be limitations on the import of items like laptops, tablets, personal computers, ultra-small form factor computers, and servers. The import of these items will be allowed against a license but specific use cases have been exempted from the limitations. It means only one laptop, tablet, personal computer, or ultra-small form factor computer can be sent by post or courier in import. However, the Directorate General of Foreign Trade stated in a notification that the limitations are also not applicable to imports under baggage rules.
The notification also said that given imports shall be allowed subject to the condition that the imported goods shall be used for the stated purposes only and they will not be sold. Further, after the purpose intended, the products would neither be destroyed beyond use nor re-exported, said the release.
The move has come at a time when there is pressure on India’s trade balance as the merchandise trade deficit has exceeded $20 billion in the months of May and June 2023.
In recent months, there has been a lot of buzz by the present government in terms of policy changes and also the introduction of new stuff in the country as they are eyeing public favor in the upcoming 2024 General Elections.