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Union Budget Relives Hybrid Cars!
The Union FM has come out with a proposal to boost the hybrid version vehicles for ensuring pure environment. He said there has been a tremendous boost for these types of vehicles worldwide and a time has come to initiate a mission towards clean transportation to the masses, he added. He said all the parties involved in such deals will be pressed into service for better transportation. He mentioned that there has been a rise in the dependency for imported materials and sub-assembling process in these hybrid version vehicles.
To meet the demands in such fields, he said, indigenous manufacturing needs to be promoted byway of fuel conversion from fossil fuels to hybrid variety. A specific kit will be designed to fulfill this process, he said, for which there will be a reduction of duty to 5%from 10%. He said the government will allocate Rs200 crore for initiating environmental programs, and the fund will be released from the national clean energy for the year 2011-12.
In addition there will be further Rs200 crore for cleaning the lakes and rivers barring Ganges. Other products which came under the purview of duty waiver are solar modules and cells by which LEDs will be levied 5% along with 4% waiver of counter veiling duty.
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