Rs 5,500 cr FAME II scheme finalised; all EVs to get subsidy support


Rs 5,500 cr FAME II scheme finalised; all EVs to get subsidy support

An inter-ministerial panel has finalised the roadmap for the second phase of FAME India scheme with an outlay of around Rs 5,500 crore spanning over five years and subsidy support for all types of electric vehicles, official sources said.

The panel decided to offer subsidy to all categories of electric vehicles, including two-wheelers, three-wheelers and four-wheelers, to promote green vehicles and check pollution, they said.

“Incentives will be provided on purchase of two-wheelers as well as three-wheelers and four-wheelers including taxis and electric buses used in public transport to check pollution. However, strong hybrid vehicles will not be entitled to sops anymore,” a government official told PTI.

Top officials from finance, road transport and highways and heavy industry ministry, among other departments, participated in the meeting. Representatives from government think tank NITI Aayog were also present, sources said. Read More

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