FAME 2 budget increased to Rs 11,500 crore, validity till March 2024
The answer to the future of the government of India’s ambitious FAME (Faster Adoption & Manufacturer of (and Hybrid &) Electric Vehicles) Scheme may be some time away, but there is some good news for the industry.
The government of India has hiked the budget outlay from the original Rs 10,000 crore to Rs 11,500 crore, committing an additional Rs 1,500 crore. The budget outlay will be valid till March 31, 2024 or till the funds are available, whichever is earlier.
The subsidies will be available for electric two-, three- and four-wheelers.
