Budget 2021/22: Shift to Fully Electric Vehicles By 2088 B.S. (2031 A.D.)

The Government is committed to promoting electric vehicles by announcing a policy of replacing the vehicles running on petroleum products with electric vehicles by 2088 B.S (2031 A.D.). The government also wants to encourage the assembly of electric vehicles in Nepal by inviting the top 10 EV brands.Presenting the budget for the fiscal year 2078/79 on Saturday, Hon. Finance Minister Bishnu Poudel said that a policy will be taken to replace the vehicles running on petroleum products with electric vehicles by 2088 BS. Minister Poudel also informed that a task force with experts will be formed to study the issue.Similarly, Minister Poudel said that the government will waive the renewal taxes for five years if anyone wants to convert their existing internal combustion engine vehicle to an electric powertrain. Similarly, it is mentioned in the budget that the road toll will also be waived.