FAME II may need more fuel as EV sales rev up, heavy industries ministry seeks additional Rs 1,700 cr
Mumbai: The ministry of heavy industries is expected to ask the finance ministry for an additional ₹1,500-1,700 crore under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) scheme, senior ministry officials said. With robust electric vehicle sales, funds earmarked for the second phase are likely to be exhausted before March 2024.
