Categories: NewsTech & Auto

Modi government’s gift to those who buy electric vehicles! Subsidy worth Rs 11,500 crore will be distributed

FAME II Subsidy Scheme: The Modi government at the Center has given a gift to those who buy electric vehicles in India. It is reported that the government has increased the subsidy under FAME-II scheme by about Rs 1500 crore. Earlier, the government was giving subsidy of about Rs 10,000 crore under the FAME-II scheme, but it has increased it to about Rs 11,500 crore. This scheme of the government will remain in force till 31 March 2024.

13.41 lakh electric vehicles got subsidy

Let us tell you that under FAME (Faster Adoptive and Manufacturer of Electric Vehicles), the Central Government provides subsidy to the customers on the purchase of electric vehicles. The government planned to provide financial assistance to 10 lakh electric two-wheelers, 5 lakh electric three-wheelers and 55,000 electric passenger cars as well as 7,000 electric buses in the country through FAME-II. The government has given a total subsidy of Rs 5,790 crore to electric vehicle manufacturers on the sale of 13.41 lakh electric vehicles through this scheme till January 31, 2024. This includes 11.86 lakh two-wheelers, 1.39 lakh three-wheelers and 16,991 four-wheeler electric vehicles.

Subsidy of Rs 5,311 crore on two-wheelers

Not only this, the Central Government has also provided Rs 800 crore as capital subsidy to oil marketing companies for providing 6,862 electric buses for inter-urban transport as well as charging stations for 7,432 electric vehicles to various cities, state transport undertakings and state government entities. Approval of Rs crore has been given. After the government has revised the expenditure, Rs 7,048 crore has been allocated for subsidy, out of which two-wheelers will get Rs 5,311 crore. The total grant for setting up electric buses and charging stations has also been revised to Rs 4,048 crore.

Subsidy received on more than 12.11 lakh two-wheelers

Through the FAME-II scheme, the government has so far distributed subsidy on 12,11,843 electric two-wheelers. Apart from this, about 1,42,713 electric three-wheelers and 17,301 electric four-wheelers have also been given the benefit of this subsidy. The initial target of the FAME-II scheme was to provide benefits to 10 lakh electric two-wheelers, 5 lakh three-wheelers, 55000 passenger cars and 7000 electric buses.

Harshita

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