IFCI is the project management agency for various production-linked incentive (PLI) schemes launched by the Union government. It is also the verifying and monitoring agency for various capital subsidy schemes such as that for promoting faster adoption of electric vehicles
Uncertainty surrounds the fate of electric vehicle incentives, with the ₹11500 crore FAME-II scheme set to expire this financial year, sparking discussions about the potential transition to FAME-III
Subsidies for electric two, three, and four wheelers has been revised to Rs 7, 048 crore, of which Rs 5,311 crore is for electric two-wheelers. An allocation of Rs 4,048 crore has been made for purchasing electric buses and setting up electric vehicle (EV) charging stations.
Fame Scheme: Subsidies for electric two, three, and four wheelers has been revised to INR 7, 048 crore, of which INR 5,311 crore is for electric two-wheelers. An allocation of INR 4,048 crore has been made for purchasing electric buses and setting up electric vehicle (EV) charging stations.
Officials in the Ministry of Heavy Industries (MHI) said on Friday that the allocation of ₹2,671.33 crore under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme for fiscal 2024-25 will be utilised to subsidise EVs sold till March 31, 2024.