The parliamentary standing committee on heavy industry is concerned that Phase 2 of the FAME scheme to subsidize electric vehicles has achieved only 51.96 per cent of its target of supporting 15.62 lakh vehicles, as of 31 December 2022.
The FAME scheme by the Ministry of Heavy Industries is for five years and there is only about one year left. In its report, the committee also pointed to the low expenditure so far against the allocated budget. In the revised estimates for FY2022-23, the expenditure has not even reached the halfway mark of Rs 2897.84 crore, even though there are only two months left for the financial year to close.
