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Updated on: Wednesday, May 29, 2019, 11:15 PM IST

FAME II to get Rs 8,730 cr govt financial support

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New Delhi : The government is likely to extend financial support of Rs 8,730 crore for the second phase of the FAME India spanning five years but the incentives will be restricted to new energy vehicles used for public transport, commercial purposes and high-speed two-wheelers.

According to officials in the Heavy Industry Ministry, which has proposed the outlay and road-map for the scheme, the government has decided to adopt a ‘technology agnostic’ approach and only advanced chemistry batteries will be promoted in the Phase II of the scheme.

The second phase of the scheme, which was expected to be implemented from April 1, is likely to be delayed and the proposals entailing financial support to the tune of Rs 8,730 crore are likely to be sent to the Union Cabinet for approval soon, an official said. Out of the Rs 8,730 crore, support to the tune of Rs 5,550 crore has been proposed as demand side incentives during the second phase of the scheme spanning five years, said sources.

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The fund support includes Rs 2,500 crore for buses, Rs 1,000 crore for four-wheelers, Rs 600 crore for high-speed two wheelers (with maximum speed greater than 25 km) and Rs 750 crore for high-speed three-wheelers.

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Published on: Tuesday, March 27, 2018, 12:09 AM IST
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