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The Centre has sanctioned an additional Rs 1,500 crore for the second phase of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme.
This infusion addresses the fears that the allocated funds could run out before the scheme’s deadline in March 2024 due to robust electric vehicle (EV) sales.
The proposal for enhancement of the outlay for FAME-II from Rs 10,000 crore to Rs 11,500 crore has been examined by the department of expenditure (DoE). It was approved considering the objectives of the scheme, according to a ministry of heavy industries (MHI) statement.
The MHI was allocated
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