<p>To lure investors in the electric vehicle segment, the Cabinet on Thursday approved amendments to the Karnataka Electric Vehicle (EV) and Energy Storage Policy 2017, offering production-linked subsidy and payment of 15% value of fixed assets to enterprises.</p>.<p>According to changes proposed to the policy, the government will offer 15% of the value of fixed assets (VFA) for a firm. The land limit for the incentive will be 50 acres, and will be paid in five annual instalments.</p>.<p>Apart from that, enterprises involved in manufacturing EV cells, battery pack and modules, charging infrastructure equipment and battery swapping equipment will get production-linked subsidy of 1% on turnover.</p>.<p>This shall be for a period of five years, starting from the first year of commercial operations of a firm.</p>.<p>The Cabinet also approved amendments to the Town and Country Planning Act.</p>.<p>As per this, until the development of a layout is completed, all corner sites will be in the custody of local authorities.</p>.<p>Once the layout is completely developed and sites distributed to applicants, the corner sites will be released to the developer, according to Law and Parliamentary Affairs Minister Basavaraj Bommai.</p>.<p><strong>Other Cabinet decisions</strong></p>.<p>Rs 90 cr for ultra-high-temperature milk processing plant at Haveri under PPP model</p>.<p>Rs 58.22 cr for Hassan Institute of Medical Sciences to facilitate increase in PG seats</p>.<p>Rs 75 cr for commercial complex at Singasandra, Bengaluru</p>.<p>Rs 26.30 cr for modern market at Kalaburagi</p>.<p>Rs 144 cr for development of lakes in and around Hassan</p>.<p>Rs 25.70 cr for white-topping Kenchenahalli main road in Bengaluru, which connects Mysuru Road to Uttarahalli</p>
<p>To lure investors in the electric vehicle segment, the Cabinet on Thursday approved amendments to the Karnataka Electric Vehicle (EV) and Energy Storage Policy 2017, offering production-linked subsidy and payment of 15% value of fixed assets to enterprises.</p>.<p>According to changes proposed to the policy, the government will offer 15% of the value of fixed assets (VFA) for a firm. The land limit for the incentive will be 50 acres, and will be paid in five annual instalments.</p>.<p>Apart from that, enterprises involved in manufacturing EV cells, battery pack and modules, charging infrastructure equipment and battery swapping equipment will get production-linked subsidy of 1% on turnover.</p>.<p>This shall be for a period of five years, starting from the first year of commercial operations of a firm.</p>.<p>The Cabinet also approved amendments to the Town and Country Planning Act.</p>.<p>As per this, until the development of a layout is completed, all corner sites will be in the custody of local authorities.</p>.<p>Once the layout is completely developed and sites distributed to applicants, the corner sites will be released to the developer, according to Law and Parliamentary Affairs Minister Basavaraj Bommai.</p>.<p><strong>Other Cabinet decisions</strong></p>.<p>Rs 90 cr for ultra-high-temperature milk processing plant at Haveri under PPP model</p>.<p>Rs 58.22 cr for Hassan Institute of Medical Sciences to facilitate increase in PG seats</p>.<p>Rs 75 cr for commercial complex at Singasandra, Bengaluru</p>.<p>Rs 26.30 cr for modern market at Kalaburagi</p>.<p>Rs 144 cr for development of lakes in and around Hassan</p>.<p>Rs 25.70 cr for white-topping Kenchenahalli main road in Bengaluru, which connects Mysuru Road to Uttarahalli</p>
