Rs 5,500 Crore Finalized for FAME India Second Phase, All Electric Vehicle to get subsidy



Under the scheme, depending on the technology, battery-operated scooters and motorcycles are eligible for incentives ranging from Rs 1,800 to Rs 29,000, while for tricycles between R 3,300 and Rs 61,000.

PTI

updated:24 August 2018, 14:55 IST

Rs 5,500 Crore Finalized for FAME India Second Phase, All Electric Vehicle to get subsidy
Mahindra e2oPlus. (Image: Mahindra)

An inter-ministerial panel completed the roadmap for the second phase of the FAME India plan with an investment of about 5,500 crore over five years and subsidy support for all types of electric vehicles, according to official sources.

The panel decided to offer subsidies to all categories of electric vehicles, including two-wheelers, tricycles and quadricycles, to promote green vehicles and control pollution, they said.

"Incentives are provided for the purchase of two-wheelers and tricycles and quadricycles, including taxis and electric buses used in public transport to control pollution, but strong hybrid vehicles are no longer entitled to sops," official PTI told.
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Top officials from the financial sector, road transport and highways and the ministry of heavy industry, including departments, attended the meeting.
Representatives of the NITI Aayog government think tank were also present, according to sources.

At the moment the incentive is offered with the purchase of strong hybrid and electric cars, two-wheelers and tricycles according to the Faster Adoption and Manufacturing of Hybrid and Electric vehicles in India (FAME India-I).

Under the scheme, depending on the technology, battery-operated scooters and motorcycles are eligible for incentives ranging from Rs 1,800 to Rs 29,000, while for tricycles between R 3,300 and Rs 61,000.

At the moment, car manufacturers are claiming government stimulus at the end of every month.

With the aim of promoting environmentally friendly vehicles, the government had launched the FAME India plan in 2015. The current pilot phase of the scheme was extended until September this year or until the second phase was approved.

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| Edited by: Ayushmann Chawla


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