Union Cabinet likely to clear Rs 10,000 crore FAME II scheme

Today the 28th Feb it is expected that Union Cabinet will clear Rs.10,000-crore programme under the FAME-II scheme for promotion of electric and hybrid vehicles, according to official sources.
The programme would be for 3 years and would provide subsidies on electric busses, passenger cars to be used by taxi aggregators, three-wheelers and two-wheelers but will exclude private car users. Under the FAME-II, 7,000 electric buses of prices up to Rs 50 lakh or 40 per cent of cost, but only on the basis of operational expenditure (opex) and not capital expenditure (capex) model, will get subsidy. The FAME-II will also provide subsidy of up to Rs 50,000 for 5 lakh electric three-wheelers and 35,000 strong hybrid and electric passenger cars which are to be used by taxi aggregators. About 10 lakh electric 2-wheelers will also get subsidy under FAME-II. The scheme will offer incentives, such as exemption from paying road tax, registration fee, parking charges and cost of setting up of charging infrastructure for EVs.

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