Cabinet Likely To Decide On Extension Of FAME Electric Vehicle Incentive Scheme.

The Indian government plans to extend the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India) scheme, with the Cabinet considering a two-year extension of the current Rs 12,600 crore scheme or a four-month extension with a budget of Rs 500 crore until the next general election. The second phase of the initiative is set to end on 31st March. The FAME scheme has significantly contributed to the growth of EV sales in India, with a predicted 45% increase in registrations.

March 13, 2024
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