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India should go for easy and ‘Green’ Financing at low interest rate for electric vehicle: Niti Ayog CEO

“India need more financial instruments to provide a further impetus to clean mobility”, said Union NITI Aayog CEO Amitabh Kant while delivering a keynote address at a workshop ‘Financing for Decarbonization of Transport’ as part of the NDC-Transport Initiative for Asia (NDC-TIA) project

Statesman News Service | New Delhi |

NITI Ayog on Tuesday asked for easy and ‘Green’ financing at low interest cost for electric vehicles by taking direct help from national and International financial Institutions.

“India need more financial instruments to provide a further impetus to clean mobility”, said Union NITI Aayog CEO Amitabh Kant while delivering a keynote address at a workshop ‘Financing for Decarbonization of Transport’ as part of the NDC-Transport Initiative for Asia (NDC-TIA) project

“We must come up with financing mechanisms that are widely applicable, acceptable and, most importantly, sustainable. We should also foster shared mobility by leveraging private sector investments and unlocking financing for e-buses, which form the core of public transportation in our cities, the Niti Ayog CEO said.

He said India’s aim should be to improve livability and productivity by improving connectivity and by bringing down the cost of logistics to accelerate clean mobility. He said the approach should not only be climate-centric but also, but also from a financial perspective.

India requires a robust roadmap for electrification of transport since it is the third most greenhouse-gas-emitting sector in India and accounts for 14 % of CO2 emissions. The emission share would continue to increase further as the transport sector is also the most rapidly growing sector in the country.