The newly-elected BJP government in Delhi has just released the draft of a new electric vehicle policy for the city. The proposals that essentially envisage phasing out fossil-fuel-driven vehicles over the next decade or so have stirred up a hornet’s nest. For example, the draft proposal envisages a rapid shift away from compressed natural gas (CNG) driven auto rickshaws whose permits won’t be renewed from 15 August this year.
This has led to Indraprastha Gas Limited—the gas distributor in the NCR—seeing its share price drop by 14 per cent over the past five trading sessions, while the rest of the market was on a trampoline ride for other reasons. And if you thought this was a bit extreme, the Delhi government’s proposal to stop registrations of internal combustion two-wheelers from Independence Day next year has sparked utter shock among many manufacturers.
Here is a simple question: Will trying to force the issue work?
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