Cabinet approves Electric Vehicle, Energy Storage policy

The state Cabinet on Wednesday gave an in-principle approval for “Electric Vehicle and Energy Storage Policy” to attract investments in this emerging sector.

Briefing reporters after the meeting, Law Minister T B Jayachandra said the government is keen to make Karnataka the ‘electric vehicle capital’ of the country. A committee, headed by Chief Secretary Subhash Chandra Khuntia and comprising Additional Chief Secretary (Industries and Commerce) D V Prasad and other officials, will work out the finer points of the policy, he said.

The Niti Aayog recently unveiled a policy blueprint aimed at electrifying all vehicles in the country by 2032. The planning body headed by Prime Minister Narendra Modi has recommended lower taxes and low interest rates on electric vehicles.
Officials said the state government will cash in on the emerging ecosystem for ‘green cars’ by being the first state to come out with a policy for the sector.

Besides, the Cabinet gave its approval for construction of a new medical college building on the premises of Bowring and Lady Curzon Hospital and construction of a girls' hostel building on the premises of HSIS Gosha Hospital in Bengaluru at a cost of Rs 197.54 crore.

The Cabinet also gave its approval for repairs and construction of new buildings at Karnataka Arts, Science, and Commerce College, Dharwad at a cost of Rs 25 crore in view of centenary celebrations of the college. Renovation and expansion of 100-bed MCH Hospital at Gadag will be taken up at a cost of Rs 5.08 crore, Jayachandra said.

Other cabinet decisions

* Government guarantee for Karnataka Neeravari Nigam to borrow Rs 765 crore.
* DPR for replacement of existing gates at Joladadgi-Gudar barrage across river Bhima in Yadgir district at a cost of Rs 57 crore.
* Grant of 77.93 acres of government land in Hosapete taluk, Ballari district, to JSW Steels for impounding reservoir project for the factory.
* Grant of 27.03 acres of government land in Hosapete taluk to K B Steel Pvt  Ltd through KIADB for industrial use.
* Extension of term of Fourth State Finance Commission headed by C G Chinnaswamy till December this year.