NITI Aayog recommends restricting registration of petrol and diesel cars

A NITI Aayog report released on Friday states that adoption of more electric and shared vehicles could help India save nearly Rs 3.85 lakh crore ($60 billion) in energy costs by 2030.It will additionally allow the country to save one gigatonne of carbon emissions between 2017 and 2030.

The aforementioned report on transformative mobility solutions offers a 15-year roadmap for electrification of vehicles in India; it recommends three major shifts: a transition from private vehicle ownership to shared usership, from conventional fuel to electric vehicles, and from cities designed for cars to cities designed for humans.

The report, co-authored by Rocky Mountain Institute, said, "Such a transformation could position India as the global leader in clean, shared, and connected passenger mobility, while establishing a model of low-carbon solutions for other developing nations to follow."

Primary suggestions include limiting the registration of petrol and diesel cars through public lotteries, providing fiscal and monetary incentives and subsidies to push sales of electric vehicles, and using tax revenues from the sale of petrol and diesel cars to set up electric charging stations.

It also proposes reducing interest rates and electricity tariffs for electric taxis, setting up a consortium for manufacturing standardized batteries and common components to bring down their cost, and establishing battery-swapping facilities.

Furthermore, the report by India's top think-tank suggests establishing a regulatory body to create, update, and simplify the regulatory framework for electric vehicles in the country.

This regulatory institution would also be responsible for appraising recommendations in lighthouse regions before bringing them into action across India.