FAME-3 Scheme: Electric & Hybrid Vehicles Get Boost in India
According to media reports, when can the FAME-3 scheme be started and can it include hybrid vehicles along with electric. Let’s know.
FAME-3 scheme will come
FAME-3 scheme can be started soon by the central government to promote electric vehicles. According to the information, this scheme can be started in the next 100 days after the new government takes charge. In which the government can release an outlay of Rs 10 thousand crore for vehicles.
Which vehicles will be included
According to media reports, in the FAME-3 scheme to be brought by the government, financial assistance will be given to electric two-wheelers as well as three-wheelers and government buses. Apart from this, electric cars and cars with hybrid technology can also be included in it. But there is a high possibility of cars up to Rs 15 lakh being included in this scheme.
At present, subsidy is being given through EMPS scheme
At present, subsidy is being given on electric two-wheelers and three-wheelers by the central government through EMPS scheme. Under this scheme, the government is giving a maximum subsidy of Rs 10-11 thousand on electric two-wheelers. At the same time, subsidy of up to Rs 50 thousand is being given on three-wheelers.
More subsidy was available till March 2024
To promote electric vehicles, the first phase of FAME subsidy was started by the government in the year 2015. This scheme, which came into effect from 1 April 2015, was first implemented for two years, but in view of the increasing interest of the people, it was extended till 31 March 2019. During this period, a fund of about Rs 529 crore was given. After this, FAME-2 subsidy was implemented from 1 April 2019, which was extended till 31 March 2024. During this period also people bought electric vehicles in large numbers.
But from April 1, 2024, the government implemented EMPS, which was a scheme for only four months. Under this scheme, electric cars were also to be subsidized by the government till March 2024, but in the EMPS to be implemented from April 1, 2024, only two-wheelers and three-wheelers were being subsidized. The government had also reduced this subsidy significantly compared to FAME-1 and FAME-2.