Govt denies reports of FAME II extension beyond March 31: Officials
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 ₹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.
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It also shared that the outlay of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme has been enhanced from ₹10,000 crore to ₹11,500 crore.
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The ministry had said in the statement that the second phase of its flagship scheme to promote the 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 ₹7,048 crore. Besides, ₹4,048 crore has been allocated towards grants for the creation of capital assets, whereas ₹400 crore has been earmarked for the 'others' category.
