Latest News

    Switching Two-Wheelers To Electric Can Cut Oil Bill By Rs. 1.2 lakh Crore: NITI Aayog
    Sunday, September 9, 2018 IST
    Switching Two-Wheelers To Electric Can Cut Oil Bill By Rs. 1.2 lakh Crore: NITI Aayog

    The NITI Aayog report said that India had a lot to gain by converting its internal combustion engine vehicles to electric vehicles at the earliest.

     
     

     
    India can cut its annual oil import bill by some Rs 1.2 lakh crore in the next five to seven years by switching its two-wheelers from internal combustion engine to electric, according to the NITI Aayog.
     
    "India has over 170 million two-wheelers. If we assume that each of these vehicles uses a little more than half a litre of petrol per day or about 200 litres per year, the total amount of petrol used by such vehicles is about 34 billion litres," said the NITI Aayog's 'Zero Emission Vehicles: Towards a Policy Framework' report released on Friday.
     
    "At Rs 70 per litre, this would cost about Rs 2.4 lakh crore. Even if we assume that 50 per cent of this is the cost of imported crude (as tax and other may be 50 per cent), one may save Rs 1.2 lakh crore worth of imported oil," it said.
     
    The report added there was a real possibility of getting this done in the next five to seven years, but it would require a policy regime that encourages access to latest technologies and which systematically ensures that India's electric vehicle program keeps pace with the global scale.
     
    Incidentally, minutes before releasing the report, Prime Minister Narendra Modi announced that the government will soon put in place a new stable policy regime to promote the use of electric and other alternative-fuel vehicles in the country to fight climate change.
     
     

     
     

    The NITI Aayog report said that India had a lot to gain by converting its internal combustion engine vehicles to electric vehicles at the earliest.
     
    "Its oil-import bill would considerably reduce. Internal combustion engine vehicles are a major contributor to pollution in cities and their replacement with electric vehicles will definitely improve air quality. There is a considerable possibility that we can become leaders in small and public electric vehicles," it said.
     
    "This would however require innovations, a policy regime that encourages access to latest technologies and a concerted effort by the Indian industry to achieve global competition through acquiring the necessary scale and using cutting edge technology," it added.
     
    Earlier, at the inauguration of the two-day 'Move: Global Mobility Summit' where the report was officially released, the Prime Minister said that in a rapidly transforming mobility paradigm, India had inherent strength and comparative advantages over other major economies.
     
    With fewer vehicles per capita than other major economies, India does not carry much of the baggage of other economies that were built on the back of private car ownership, Modi said.
     
    "This gives us a window of opportunity to create an all new seamless mobility ecosystem," he added.
     

     
     
     
     
     

    Related Topics

     
     
     

    Trending News & Articles

     Article
    Tata Harrier’s 7-seater Version H7X Will Be Quite Different – Report

    Tata Harrier’s three-row seat version in works, details out  

    Recently posted . 2K views . 0 min read
     

     Article
    How to make you car as silent as a Rolls Royce inside

    Rolls Royce cars are extremely luxurious. While there are many expensive pieces of equipment in Rolls Royce cars, their most relaxing feature is the silence that ...

    Recently posted . 2K views . 2 min read
     

     Article
    India's Top 5 Mobile Charger manufacturer Brand 2019

    The following list of India's Top 5 Mobile Charger manufacture Brand 2019  

    Recently posted . 2K views . 0 min read
     

     Article
    Mahindra XUV300 vs Maruti Brezza, Ford EcoSport, Tata Nexon – Price

    XUV300 is the latest entrant in the compact SUV segment.

    Recently posted . 2K views . 0 min read
     

     
     

    More in Electronics & Gadgets

     Article
    Just one homebuyer is all that is needed drag a rogue builder to bankruptcy court

    Homebuyers have always been at the mercy of builders. They invest money in their homes but have no control over when they will get possession. In some cases, posses...

    Recently posted. 497 views . 1 min read
     

     Article
    Click pictures of illegally parked cars, get rewarded: Nitin Gadkari

    New Delhi: Transport minister Nitin Gadkari on Monday asked citizens to click picture of wrongly parked cars and send to authorities, while proposing a 10% reward f...

    Recently posted. 844 views . 1 min read
     

     Article
    Banking services maybe hit on Tuesday as banks stare at union strike

    New Delhi: Banking services might be hit on Tuesday as worker unions under the aegis of UFBU have undermined to go on strike against the government's proposed c...

    Recently posted. 808 views . 10 min read
     

     Reviews
    Honda CB300R vs Bajaj Dominar vs BMW G310R vs KTM Duke 390



    Recently posted . 1K views . 35 min read
     

     Reviews
    Motorcycle Review: 2018 Suzuki V-Strom 1000



    Recently posted . 1K views . 45 min read
     

     Article
    Paramilitary jawans can now take commercial flights to Kashmir

    Jawans of the CRPF and other paramilitary forces deployed in the Kashmir Valley will now be able to take a commercial flight to join duty or while going on leave as...

    Recently posted. 556 views . 1 min read
     

     Article
    Don't Fret And Know Which Market Is Closed On Which Day In Delhi-NCR

    Delhi - The capital city of India is not only a tourist paradise but also a hub for shoppers & travelers. Y...

    Recently posted. 1K views . 5 min read
     

     
     
     

       Prashnavali

      Thought of the Day

    “It’s Not Whether You Get Knocked Down, It’s Whether You Get Up.”
    Anonymous

    Be the first one to comment on this story

    Close
    Post Comment
    Shibu Chandran
    2 hours ago

    Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

    November 28, 2016 05:00 IST
    Shibu Chandran
    2 hours ago

    Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

    November 28, 2016 05:00 IST
    Shibu Chandran
    2 hours ago

    Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

    November 28, 2016 05:00 IST
    Shibu Chandran
    2 hours ago

    Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

    November 28, 2016 05:00 IST


    ads
    Back To Top