FAME: Over 27,000 electric vehicles supported till Sept 10 under phase-II

Topics FAME | Electric Vehicles

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The government on Tuesday said under the second phase of FAME India Scheme, over 27,000 electric vehicles have been supported till September 10 this year by way of demand incentive amounting to about Rs 95 crore.

In a written reply to the Lok Sabha, Heavy Industries and Public Enterprises Minister Prakash Javadekar said further 5,595 electrical buses have been sanctioned to various state/ city transport undertakings under Phase-II of the scheme.

This involves government incentive of around Rs 2,800 crore, he said.

"Under Phase-II of FAME India Scheme, 27,201 electric vehicles have been supported till 10.09.2020 by way of demand incentive amounting to about Rs 95 crore," the minister said. He also said the department of heavy industry has also sanctioned 2,636 electric vehicles (EVs) charging stations amounting to Rs 500 crore in 62 cities across 24 states/UTs under FAME India (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India) scheme phase II.

The main objective of the scheme is to encourage faster adoption of electric and hybrid vehicles by way of offering upfront incentive on purchase of electric vehicles and also by way of establishing necessary charging infrastructure for EV.

The second phase of the scheme will be implemented over a period of three years with effect from April 1, 2019.

It is the expanded version of the present scheme FAME India I (Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME) which was launched on April 1, 2015.

In a separate reply, he said the government follows a policy of disinvestment through minority stake sale and strategic disinvestment.

"The policy of strategic disinvestment is followed in respect of the CPSEs (Central Public Sector Enterprises) which are not in the priority sector. For this purpose, NITI Aayog has been mandated to identify such CPSEs based on the criteria of national security; sovereign functions at arm's length, and market imperfections and public purpose," he said.

Replying to a separate question, the minister said as per the information furnished by MSME, a number of Rs 2133 crore is owed by CPSEs to MSMEs (Micro, Small & Medium Enterprises).

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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