Rs 5,500 crore FAME II finalized

• An inter-ministerial panel today finalized the roadmap for the second phase of FAME India scheme with an outlay of around Rs 5,500 crore spanning over five years and subsidy support for all types of electric vehicles.

• The panel decided to offer the subsidy to all categories of electric vehicles, including two-wheelers, three-wheelers and four-wheelers, to promote green vehicles and check pollution.

• However, strong hybrid vehicles will now be entitled to sops anymore.

• At present, the incentive is being offered on purchase of strong hybrid and electric cars, two-wheelers and three-wheelers under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India scheme.

• Under the scheme, depending on technology, battery-operated scooters and motorcycles are eligible for incentives ranging from Rs 1,800 to Rs 29,000, while in three-wheelers it is between Rs 3,300 and Rs 61,000.

• At present automotive manufacturers claim the incentive from the government at the end of each month.

• With an aim to promote eco-friendly vehicles, the government had launched the FAME India scheme in 2015. The ongoing pilot phase of the scheme was earlier extended till September this year or until its second phase is approved.

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