PM to launch FAME India II for electric vehicle adoption
What's the story
Prime Minister Narendra Modi will launch in New Delhi the second phase of the FAME India scheme offering incentives for mass adoption of electric vehicles with an outlay of Rs. 5,500 crore, on September 7.
The modalities of the scheme have been finalized by an inter-ministerial panel and it will soon be placed before the Union Cabinet for approval, sources said.
Here's more.
Information
The first phase has been extended at least three times
In April, the government had extended the Phase-I of the scheme by six months till September-end or till its second phase is approved. The first phase was initially proposed for two years till 31 Mar'17 but was extended twice for six months upto 31 Mar'18.
Second phase
Second phase will have a span of five years
Modi would unveil the scheme at the inaugural session of the 'MOVE', a global mobility summit to be organized in New Delhi on September 7-8.
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.
Incentives
Certain vehicles not entitled to incentives in this scheme
However, strong hybrid vehicles, which were entitled to incentives in the ongoing pilot phase of the scheme, will be unable to avail sops in the second phase.
At present, the incentive is being offered on the 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.
Phase II incentives
Here are details about the incentives in Phase II
Under the Phase II of the scheme, depending on technology, battery-operated scooters and motorcycles are eligible for incentives ranging between Rs. 1,800-29,000, while in three-wheelers it is between Rs. 3,300 and Rs. 61,000.
Currently, automotive manufacturers claim the incentive from the government at the end of each month.
With an aim to promote eco-friendly vehicles, the government had launched the FAME-India scheme in 2015.