Govt. denies extending FAME-II scheme by 4 months

The articles also claimed that an additional Rs 500 crore had been allocated to cover subsidies.

Recently, there were reports claiming that the government had extended the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) scheme by 4 months. The Ministry of Heavy Industries has now issued an official statement denying these reports and has clarified that there are no plans to extend the scheme beyond March 31, 2024.

It was reported that the government had granted a 4-month extension to the FAME-II scheme till July 31. The articles also claimed that an additional Rs 500 crore had been allocated to cover subsidies for electric 2-wheelers and 3-wheelers.

The ministry, in its statement, said that the second phase of the scheme to promote the adoption of EVs in India was fund and term-limited.

While proposals for FAME-III have been submitted, its rollout is said to have been delayed due to the upcoming general elections. Reports suggest that the new scheme could get approval once the elections are over.

Source: ET Auto