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With reference to a report ‘Mobilising Electric Vehicle Financing in India’, consider the following statements:
1. It highlights the role of finance in the India’s transition to electric vehicles (EVs)
2. The report identifies a market size of USD 50 billion (Rs 3.7 lakh crore) for the financing of EVs in 2030.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
With reference to a report ‘Mobilising Electric Vehicle Financin...
NITI Aayog and Rocky Mountain Institute (RMI) India released a new report ‘Mobilising Electric Vehicle Financing in India’.
  • It highlights the role of finance in the India’s transition to electric vehicles (EVs) and analyses that the transition will require a cumulative capital investment of USD 266 billion (Rs 19.7 lakh crore) in EVs, charging infrastructure, and batteries over the next decade.
  • The report also identifies a market size of USD 50 billion (Rs 3.7 lakh crore) for the financing of EVs in 2030—about 80% of the current size of India’s retail vehicle finance industry, worth USD 60 billion (Rs 4.5 lakh crore) today.
  • End-users currently face several challenges, such as high interest rates, high insurance rates, and low loan-to-value ratios.
  • To address these challenges, NITI Aayog and RMI have identified a toolkit of 10 solutions that financial institutions such as banks and non-banking financial companies (NBFCs), as well as the industry and government can adopt in catalysing the required capital.
Hence both statements are correct.
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With reference to a report ‘Mobilising Electric Vehicle Financing in India’, consider the following statements:1. It highlights the role of finance in the India’s transition to electric vehicles (EVs)2. The report identifies a market size of USD 50 billion (Rs 3.7 lakh crore) for the financing of EVs in 2030.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to a report ‘Mobilising Electric Vehicle Financing in India’, consider the following statements:1. It highlights the role of finance in the India’s transition to electric vehicles (EVs)2. The report identifies a market size of USD 50 billion (Rs 3.7 lakh crore) for the financing of EVs in 2030.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to a report ‘Mobilising Electric Vehicle Financing in India’, consider the following statements:1. It highlights the role of finance in the India’s transition to electric vehicles (EVs)2. The report identifies a market size of USD 50 billion (Rs 3.7 lakh crore) for the financing of EVs in 2030.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to a report ‘Mobilising Electric Vehicle Financing in India’, consider the following statements:1. It highlights the role of finance in the India’s transition to electric vehicles (EVs)2. The report identifies a market size of USD 50 billion (Rs 3.7 lakh crore) for the financing of EVs in 2030.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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