The finance ministry is likely to approve a subsidy outlay of nearly Rs 4,000 crore for the second phase of FAME India scheme to promote electric and hybrid vehicles, official sources said today.
The heavy industry ministry had sought over Rs 12,200 crore in financial support to implement the scheme over the next five years. The second phase of the scheme is expected to entail subsidy only for electric buses and setting up of charging infrastructure for all categories of vehicles.
At present, the incentive is being offered on purchase of strong hybrid and electric cars, two-wheelers and three-wheelers under FAME India- I. As per the scheme, depending on technology, battery operated scooters and motorcycles are also eligible for incentives ranging between Rs 1,800 to Rs 29,000, while in three-wheelers it is between Rs 3,300 and Rs 61,000. Read More
Latest posts by The Economic Times (see all)
- Financial distress in India’s thermal power sector - August 18, 2018
- Eurasian Economic Union trade ties with India independent of China - August 18, 2018
- Be Alert! Curbs On Iran Oil Can Make Indian Macros Crumble - August 18, 2018