Outlay of Rs 55 billion approved for FAME-II programme to subsidise EVs

The government has approved an amount of Rs 55 billion to be disbursed as subsidies under the second phase of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME) programme, over a five-year period. The funds will be utilised to subsidise the purchase of EVs such as two-wheelers, three-wheelers and four-wheelers, including taxis and buses used in public transport.  However, hybrid vehicles will not be entitled to these subsidies in the FAME-II programme. The government had launched the FAME programme with an initial outlay of Rs 750 million to push the early adoption of hybrids and EVs.

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