MLAs to get huge interest subsidy on electric vehicles, big decision of Mohan government - mla interest subsidy for car purchase on electric vehicles up to 30 lakh
Updated: Thu, 23 Oct 2025 07:13 (IST) The state government has decided to give interest rebate to MLAs on the purchase of vehicles, which also includes electric vehicles. Up to 6% interest subsidy will be available on electric vehicles. The government will also give interest up to 2% on petrol and diesel vehicles. Apart from this, there is also a proposal for interest subsidy on housing loans of MLAs, in which there is talk of increasing the loan limit. Six percent interest subsidy will be available on electric vehicles, State Bureau, Bhopal. The state government has decided to provide interest subsidy on the purchase of vehicles to the members of the 16th Assembly (December 2023-2028). For the first time, electric vehicles are included in the scheme. On purchase of an electric vehicle up to Rs 30 lakh, the member will have to pay four percent interest. The government will pay the remaining interest, but it will be up to a maximum of six percent. Remove Advertisement Only Read News Six percent interest subsidy will be available on electric vehicles. The government will pay only two percent interest on the purchase of a petrol-diesel vehicle worth more than Rs 15 lakh. This decision was taken in the cabinet meeting held on Thursday under the chairmanship of Chief Minister dr. Mohan Yadav. The scheme of giving interest subsidy to MLAs on the purchase of vehicles in the state was stopped during the Corona period. After this is not started. While the members constantly demanded it. Narendra Singh Tomar, speaker of the meeting, met with Chief Minister dr. Mohan Yadav spoke and after the proposal was prepared, the Parliamentary Affairs Department sent it to the Finance Department, where it was cut and sent. The Parliamentary Affairs Department proposed to give four percent interest subsidy, but the Finance Department split it into two parts. If an MLA buys a vehicle worth up to Rs 15 lakh, he will have to pay four percent interest. The government will give the remaining interest, but on the purchase of a vehicle worth Rs 15 to 30 lakh, the government will give only two percent interest subsidy. The remaining interest will have to be paid by the MLA. Interest subsidy will be given for five years only. A new category of electric vehicles has been added to the scheme. There is a provision in this that if an MLA buys a vehicle worth up to Rs 30 lakh, he will have to pay four percent interest. The government will pay the remaining interest up to a maximum of six percent. The case of interest subsidy on home loan is pending. On the other hand, the MLA also proposed to give interest subsidy on taking loans for housing. The Members’ Facilitation Committee also suggested this to the government through the Parliamentary Affairs Department. In this it was proposed to increase the maximum limit of home loan from Rs 25 to Rs 50 lakh because due to increase in inflation houses have also become expensive. The finance department has proposed to give two percent interest subsidy by the government on loans up to Rs 50 lakh with four interest members paying up to Rs 25 lakh and the remaining amount being paid by the government as a grant. Other decisions of the Cabinet: A new post of Civil Judge, Junior Division level and six posts of class III and IV under their staff will be created in Malthon tehsil of Sagar district.