The Modi government has proposed a slew of measures to boost the sale of electric vehicles. The GST council has already been moved by the government to lower the GST rate on e-vehicles from 12% to 5%. An additional IT deduction of Rs 1.5 lakh on the interest paid on loans for purchase of e-vehicles will be provided by the government. This amounts to a benefit of around Rs 2.5 lakh over the loan period to the taxpayers who take loans to purchase an electric vehicle, said Finance Minister Nirmala Sitharaman.