India plans ₹30,000 crore outlay to boost electric bus mobility by 2030
The fund is expected to encourage the adoption of 8 lakh e-buses by 2030. According to sources, discussions are already underway regarding the specifics of the fund.
The Indian government is working on a plan to set up a de-risking fund to boost electric bus mobility, sources told CNBC-TV18. The fund aims to reduce risks for banks that finance the acquisition of electric buses by both public and private sectors.
The government's move comes as banks have shown reluctance to extend loans for electric bus acquisitions. An inter-ministerial group is currently considering the possibility of a fund with an outlay of up to ₹30,000 crore.
The fund is expected to encourage the adoption of eight lakh e-buses by 2030. According to sources, discussions are already underway regarding the specifics of the fund.
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The government's de-risking fund may also be used to set up public charging infrastructure, further facilitating the transition to electric vehicles.
The fund will finance the acquisition of buses for the government and provide guarantees for private sector acquisition. This initiative is part of the government's broader strategy to promote sustainable mobility and reduce the country's carbon footprint.
(Edited by : Vivek Dubey)
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