by The government has unveiled the draft of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME III) scheme with a budget of Rs 40,000-50,000 crore. The scheme aims to promote the adoption of electric vehicles (EVs) in India and to make them more affordable for consumers.
The FAME III scheme will offer a range of incentives to buyers of EVs, including subsidies, tax breaks, and exemptions from registration fees. The scheme will also support the development of charging infrastructure in India.
The government is targeting to have 100% of all new vehicles sold in India to be electric by 2030. The FAME III scheme is a major step towards achieving this goal.
Key features of the FAME III scheme:
- A budget of Rs 40,000-50,000 crore
- Subsidies for the purchase of electric cars, buses, and two-wheelers
- Tax breaks for the purchase of electric vehicles
- Exemptions from registration fees for electric vehicles
- Support for the development of charging infrastructure in India
Benefits of the FAME III scheme:
- Make EVs more affordable for consumers
- Promote the adoption of EVs in India
- Reduce pollution levels in India
- Improve India’s energy security
- Create jobs in the EV sector
The FAME III scheme is a major step towards making India a leader in the EV space. The scheme is expected to boost the demand for EVs in India and to create a thriving EV ecosystem in the country.
