Govt denies reports of FAME-II extension beyond March 31: Officials

Source : PTI | 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 INR 500 crore for the period.

Subsidies under the second phase of the FAME Scheme will be eligible for e-vehicles sold till March 31, 2024, or till the time funds are available, the Heavy Industries ministry stated last month.

It also shared that the outlay of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme has been enhanced from INR 10,000 crore to INR 11,500 crore.

The ministry had said in the statement that the second phase of its flagship scheme to promote adoption of EVs in India — FAME II — was “fund- and term-limited”.

As per the revised outlay, electric two-wheelers, electric three-wheelers, and electric four-wheelers are eligible to avail of subsidies to the tune of INR 7,048 crore. Besides, INR 4,048 crore has been allocated towards grants for creation of capital assets, whereas INR 400 crore has been earmarked for the ‘others’ category.