While we all know that the future of mobility is all-electric, there are some changes that are taking place as we speak, that all but point towards an impending electric revolution.
Fuel costs
India’s crude oil imports are a huge burden on the country’s forex reserves. And with growing demand for cars, the imports don’t look like they’ll be slowing down anytime soon. In 2017-18, India imported approx. 217.08 million metric tonnes of crude, a marginal increase over the last year, but an increase nonetheless.
Who pays for all this fuel? Citizens do, at the pumps.
Ever since the dynamic fuel pricing was introduced, the prices have changed on a daily basis, usually in the upward direction. It would have helped if fuel pricing was brought under GST, but that doesn’t seem likely. Also not helping is the rising price of crude which is at the highest since 2014.
FAME India
The Government of India’s FAME (Faster Adoption and Manufacturing of (Hybrids &) Electric Vehicles) scheme, that aims to promote the use of electric and hybrid vehicles, has been in effect from April 1, 2015. And though Phase-1 of the scheme had been planned for two financial years, it has been extended twice now and will stay in effect till September 30, 2018, or till launching of Phase-2. So the intent is there from the government.
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