Give loans at lower rates to those wanting to buy clean energy vehicles: Gadkari

Thane: Union Minister Nitin Gadkari on Friday asked banks to give loans at reduced interest rates to those seeking to buy vehicles that run on clean energy, including flex fuel, electricity and hydrogen.

Speaking at the golden jubilee celebrations of a cooperative bank in Kalyan in Maharashtra’s Thane district, the Union Minister for Road Transport and Highways said it was his dream that vehicles running on diesel and petrol get phased out in the next four to five years.

He said banks must rate industries based on the performance on various parameters over the past five years and give those scoring high marks loans within 24 hours, adding credibility and goodwill would be the biggest capital in the 21st century.

Speaking about passenger benefits if public transport turns towards electric vehicles, Gadkari said the cost of operation of a non-air conditioned electric bus is Rs 39 per kilometre, while it is Rs 41 per kilometre for an AC electric bus.

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