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Telangana Leads the Way: 100% Tax Exemption on Electric Vehicles to Promote Cleaner Air 

In a significant move towards promoting electric mobility and reducing air pollution, the Telangana State Government has announced a 100% exemption on road tax and registration fees for a wide range of electric vehicles (EVs). This landmark initiative, valid until December 31, 2026, applies to both Greater Hyderabad Municipal Corporation (GHMC) and non-GHMC areas, with no cap on the number of registrations. 

Key Highlights of the Initiative: 

1. Vehicles Covered: 

Electric two-wheelers 

Private and commercial electric four-wheelers, including taxis and tourist cabs 

Electric three-seater auto-rickshaws 

Electric light goods carriers, including three-wheeled goods vehicles 

Electric tractors and buses 

2. Special Provisions: 

Telangana State Road Transport Corporation (TGSRTC) buses can avail of lifetime benefits. 

Employee transportation buses owned by industries are eligible, provided they are not used commercially. 

3. Cost Savings: 

The exemption can save buyers up to ₹15,000 on electric two-wheelers and up to ₹3 lakh on electric four-wheelers, making EV ownership more affordable. 

Addressing Pollution Concerns 

The initiative stems from concerns about deteriorating air quality, as observed by the Central Pollution Control Board (CPCB). Telangana's government has paired this tax incentive with plans to establish EV charging stations across cities, towns, and highways to boost EV adoption. 

Growth Potential of EVs in Telangana 

With approximately 30,000 registered EVs in the state, this policy aims to accelerate adoption, projecting a growth rate of over 25% annually. This is expected to transform Telangana into a leading EV hub, contributing significantly to environmental sustainability under the slogan "Cleaner Air in a Greener State". 

Leading EV Choices and Manufacturers in India 

Some popular two-wheeler EVs in India include the Ola S1 Pro, TVS iQube, Revolt RV 400, and Tork Kratos R. Major EV producers like Tata Motors, Mahindra Electric Mobility, Ola Electric Mobility, and Olectra Greentech are driving innovation in this sector, ensuring a wide range of options for consumers. 

Telangana’s forward-thinking policy not only underscores its commitment to environmental health but also sets a benchmark for other states to follow.  

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US Fed Meeting Highlights

Interest Rate Cut: The Federal Reserve cut its benchmark lending rate by 25 basis points to 4.5%, marking the second rate cut in 2024. 

Impact on Bond Yields: Despite the expected rate cut, a lack of guidance on future policy from Fed Chair Jerome Powell caused a sharp drop in US bond yields. The 10-year Treasury yield fell by 11 basis points to 4.33%, while 30-year Treasuries saw significant losses before slight recovery. 

Global Market Reactions:  a. Wall Street: Indices reached fresh record highs following the rate cut.  b. Indian Market: The Nifty 50 index stayed over 2,000 points below its record high of 26,277.35. 

Commodities:  a. Crude Oil: Prices fell, with Brent Crude down nearly 3% for the week. Trump’s presidency continues to weigh on oil, while markets consider potential stimulus from China.  b. Gold: Prices dropped as the US dollar strengthened after Trump’s re-election, impacting gold valuation. 

China's Influence: The conclusion of the National People’s Congress Standing Committee meeting today may provide important cues for global markets. 

For more market updates, visit TradaBulls.com.