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PM Narendra Modi to launch FAME India II on September 7

Under the scheme, 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.

Edited by: India TV Business Desk, New Delhi [ Published on: August 26, 2018 12:24 IST ]
Image Source : PTI

PM to launch FAME India II on September 7 

Prime Minister Narendra Modi on September 7 will launch the second phase of the FAME India scheme in New Delhi. Under the scheme, incentives will be offered for mass adoption of electric vehicles with an outlay of Rs 5,500 crore, officials said. An inter-ministerial panel had finalised the modalities of the scheme and it will soon be placed before the Union cabinet for approval, sources said.

The scheme would be unveiled by the prime minister in the presence of several global CEOs from the automotive sector, at the inaugural session of the ‘MOVE’ - a global mobility summit to be organised on September 7-8.

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.

The government had extended the phase 1 of the FAME India scheme by six months in April, till September-end or until the approval of its second phase.

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.

According to senior officials, it will also envisage setting up massive charging infrastructure to support electric vehicles.

Strong hybrid vehicles which were entitled to incentives in the ongoing pilot phase of the scheme will however be unable to avail sops in the second phase.

The FAME India scheme was launched by the government in 2015, with an aim to promote eco-friendly vehicles.

The incentive from the government are claimed by the automotive manufacturers at the end of each month. 

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