Cabinet note supports FAME-III scheme extension for electric vehicles, excluding hybrid vehicles, pending new government formation and Finance Ministry's funding decision.
The FAME-III scheme is unlikely to extend benefits to hybrid vehicles as the government focuses on electric vehicles (EVs). A Cabinet note supporting this decision is ready and will be presented once the new government is formed. The scheme's funding allocation is yet to be determined by the Finance Ministry. Road and Transport Minister Nitin Gadkari previously advocated for incentives on hybrid vehicles, but the current approach prioritizes EVs.
May 26, 2024
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