The federal government on Thursday mentioned it has not prolonged the flagship scheme to advertise electrical mobility FAME-II past March 31, based on officers. The Ministry of Heavy Industries denied media studies claiming that the Centre has granted a brief four-month extension to the scheme until July 31, with an outlay of INR 500 crore for the interval.
Subsidies underneath the second section of the FAME Scheme might be eligible for e-vehicles bought until March 31, 2024, or until the time funds can be found, the Heavy Industries ministry acknowledged final month.
It additionally shared that the outlay of the Sooner Adoption and Manufacturing of Electrical Autos in India (FAME-II) programme has been enhanced from INR 10,000 crore to INR 11,500 crore.
The ministry had mentioned within the assertion that the second section of its flagship scheme to advertise adoption of EVs in India — FAME II — was “fund- and term-limited”.
As per the revised outlay, electrical two-wheelers, electrical three-wheelers, and electrical four-wheelers are eligible to avail of subsidies to the tune of INR 7,048 crore. In addition to, INR 4,048 crore has been allotted in direction of grants for creation of capital belongings, whereas INR 400 crore has been earmarked for the ‘others’ class.
