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PM Modi to launch FAME India II on this date

News Agencies | Updated on: 26 August 2018, 13:33 IST

Prime Minister Narendra Modi will launch here on September 7 the second phase of the FAME India scheme offering incentives for mass adoption of electric vehicles with an outlay of Rs 5,500 crore, officials said.

 The modalities of the scheme have been finalised by an inter-ministerial panel and it will soon be placed before the union Cabinet for approval, sources said, adding that the prime minister would unveil the scheme at the inaugural session of the 'MOVE' -- a global mobility summit to be organised here on September 7-8 -- in the presence of several global CEOs from the automotive sector.

In April, the government had extended the phase 1 of the FAME India scheme by six months till September-end or till its second phase is approved.

The first phase of the scheme was initially proposed for two years till March 31, 2017 but was extended twice for six months up to March 31, 2018.

The second phase of the scheme spanning five years will offer subsidy to all categories of electric vehicles, including two-wheelers, three-wheelers and four-wheelers including taxis and electric buses used in public transportation, to promote green vehicles and check pollution. It will also envisage setting up massive charging infrastructure to support electric vehicles, senior officials said.

However, strong hybrid vehicles, which were entitled to incentives in the ongoing pilot phase of the scheme, will not be able to avail sops in the second phase.

At present, the incentive is being offered on purchase of strong hybrid and electric cars, two-wheelers and three-wheelers under the Faster Adoption and Manufacturing of (Strong) Hybrid and Electric vehicles in India (FAME India-I) scheme.

Under the scheme, depending on technology, battery-operated scooters and motorcycles are eligible for incentives ranging between Rs 1,800 to Rs 29,000, while in three-wheelers it is between Rs 3,300 and Rs 61,000.

Automotive manufacturers claim the incentive from the government at the end of each month.

With an aim to promote ecofriendly vehicles, the government had launched the FAME India scheme in 2015. The ongoing pilot phase of the scheme was earlier extended till September this year or until its second phase is approved.

(PTI)

First published: 26 August 2018, 13:33 IST
 
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