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)
- Coal India to spend Rs 1,000 crore on executives’ salary hikes this year - December 11, 2018
- Finance ministry to push through two more M&As among energy PSUs to meet selloff target - December 10, 2018
- Power crisis looming, coal-based plants key to avert it, say experts - December 10, 2018