Govt. extends FAME-II scheme by 4 months until July 31, 2024

TusharK · 7th March 2024, 15:11

The government of India has extended the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) scheme until July 31, 2024. The scheme was initially set to expire on March 31.

Govt. extends FAME-II scheme by 4 months until July 31, 2024-mg-comet-ev_3-4th-passenger-side_apple-green_jpg.jpg

The government has allocated an additional Rs 500 crore to cover subsidies for electric 2-wheelers and 3-wheelers. Media reports suggest that the extension aims to prevent disruptions in the EV sector.

The rollout of the FAME-III scheme has been delayed due to the upcoming general elections. The new scheme is expected to get approval only after the elections are over.

FAME-II was introduced in 2019 for a period of 3 years, with a budget outlay of Rs 10,000 crore. In the initial phases, the government provided subsidies for 7,000 electric buses, 5 lakh electric 3-wheelers, 55,000 electric cars and 10 lakh electric 2-wheelers.

Source: CNBC-TV18

Link to Team-BHP news

Poornavakra · 7th March 2024, 19:44

Govt has now denied extending it. Snippet from the article:

"The government on Thursday said it has not extended the flagship scheme to promote electric mobility FAME-II beyond March 31, according to officials.

The Ministry of Heavy Industries denied media reports claiming that the Centre has granted a temporary four-month extension to the scheme till July 31, with an outlay of Rs 500 crore for the period"

Source : https://www.moneycontrol.com/news/bu...-12420301.html

7th March 2024, 15:11	#1
TusharK Senior - BHPian Join Date: Jul 2017 Location: Pune Posts: 6,559 Thanked: 57,780 Times	Govt. extends FAME-II scheme by 4 months until July 31, 2024 The government of India has extended the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) scheme until July 31, 2024. The scheme was initially set to expire on March 31. The government has allocated an additional Rs 500 crore to cover subsidies for electric 2-wheelers and 3-wheelers. Media reports suggest that the extension aims to prevent disruptions in the EV sector. The rollout of the FAME-III scheme has been delayed due to the upcoming general elections. The new scheme is expected to get approval only after the elections are over. FAME-II was introduced in 2019 for a period of 3 years, with a budget outlay of Rs 10,000 crore. In the initial phases, the government provided subsidies for 7,000 electric buses, 5 lakh electric 3-wheelers, 55,000 electric cars and 10 lakh electric 2-wheelers. Source: CNBC-TV18 Link to Team-BHP news Last edited by TusharK : 7th March 2024 at 15:14.
	(4) Thanks

7th March 2024, 19:44	#2
Poornavakra BHPian Join Date: Sep 2021 Location: Bengaluru Posts: 38 Thanked: 70 Times	Re: Govt. extends FAME-II scheme by 4 months until July 31, 2024 Govt has now denied extending it. Snippet from the article: "The government on Thursday said it has not extended the flagship scheme to promote electric mobility FAME-II beyond March 31, according to officials. The Ministry of Heavy Industries denied media reports claiming that the Centre has granted a temporary four-month extension to the scheme till July 31, with an outlay of Rs 500 crore for the period" Source : https://www.moneycontrol.com/news/bu...-12420301.html
	(4) Thanks