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Business Other News 03 Dec 2019 FAME provides Rs 359 ...

FAME provides Rs 359 crore support to 2.8 L vehicles

FC INVESTIGATIVE BUREAU
Published Dec 3, 2019, 2:23 am IST
Updated Dec 3, 2019, 2:23 am IST
The Phase-II of FAME India Scheme which commenced from April 2019 is for a period of three years.
In the two-year Phase-I of FAME India Scheme was launched in March 2015 to promote adoption of electrical vehicles with an aim to reduce dependency on fossil fuel and to address issues of vehicular emissions.
 In the two-year Phase-I of FAME India Scheme was launched in March 2015 to promote adoption of electrical vehicles with an aim to reduce dependency on fossil fuel and to address issues of vehicular emissions.

Chennai: Under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India), about 2.8 lakh vehicles received demand incentives of about Rs 359 crore. Phase II of FAME has a budgetary support of Rs 10,000 crore.

In the two-year Phase-I of FAME India Scheme was launched in March 2015 to promote adoption of electrical vehicles with an aim to reduce dependency on fossil fuel and to address issues of vehicular emissions. The Phase-I of the Scheme was extended from time to time and the last extension was allowed till March 31, 2019. Among the 2.8 lakh vehicles, 425 e-buses also have received support, the government said.

 

The Phase-II of FAME India Scheme which commenced from April 2019 is for a period of three years. It has a total budgetary support of Rs 10,000 crore.

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