Key Points
New Delhi: The government is considering the extension of the second leg of its flagship incentive scheme for manufacturing electric vehicles (EVs) into the next financial year and is likely to seek additional resources in the interim budget to expand its corpus...
With the third edition of the Faster Adoption and Manufacturing Electric Vehicles (FAME) scheme yet to get a nod from the finance ministry, possibilities are being explored to extend the current edition till a new supporting framework is put in place, sources aware of the details told ET...
"Additional funds for FAME II can be sought in a vote on account," said a person aware of the matter..
The finance ministry is not keen to approve FAME III yet, which as per estimates would require an outlay of over 30,000 crore over the next five years to encourage the adoption of electric two-wheelers, electric buses, and tractors among others...
The government has additionally sanctioned 800 crore under FAME II to the public sector OMCs - IOCL, BPCL and HPCL - for setting up 7,500 fast-charging stations across the country to ease range anxiety and encourage the adoption of EVs...
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