Government of India has notified FAME India Scheme [Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India] for implementation with effect from 1st April 2015, with the objective to support hybrid/electric vehicles market development and Manufacturing eco-system. The scheme has 4 focus areas i.e. Technology development, Demand Creation, Pilot Projects and Charging Infrastructure. The phase-I of the scheme is being implemented for a period of 2 years i.e. FY 2015-16 and FY 2016-17 commencing from 1st April 2015.
The FAME India Scheme is aimed at incentivising all vehicle segments i.e. 2 Wheeler, 3 Wheeler Auto, Passenger 4 Wheeler Vehicle, Light Commercial Vehicles and Buses. The scheme covers Hybrid & Electric technologies like Mild Hybrid, Strong Hybrid, Plug in Hybrid & Battery Electric Vehicles.
The notification of this scheme is available in the website of Department of Heavy Industry [www.dhi.nic.in].
During the Financial Year 2015-16, an amount of Rs. 75 Crore was allocated for this scheme, which was almost fully utilised. In the current financial year 2016-17, Rs. 91 Crore (approx) has already been utilised out of the budget allocation of Rs. 122.90 Crore.
Under this scheme, about 99000 hybrid/electric vehicles (xEVs) have been given direct support by way of demand incentives since the launch on 1st April 2015. Department has also approved pilot projects, charging infrastructure projects and technological development projects aggregating to nearly Rs. 155 Crores.
This information was given by Minister of State in the Ministry of Heavy Industries and Public Enterprises Shri Babul Supriyo in reply to a written question in the Rajya Sabha today.
Disclaimer: No Business Standard Journalist was involved in creation of this content
