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FAME III corpus may jump to ₹30,000 cr
Mint Mumbai
|July 31, 2023
Charging infra to gain focus, with allocation expected to double
The central government may triple subsidy allocation for electric vehicle (EV) purchases in the third edition of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles in India (FAME) programme amid the rising popularity of EVs in India.
Allocation for the FAME III scheme may jump to around ₹30,000 crore from ₹10,000 crore earmarked for the current FAME II scheme, two people close to the matter said, adding that consultations have just started and the final allocation has not been decided.
Charging infrastructure would also gain significant focus, with allocation at least doubling from the second phase, one of the two people said.
In FAME II, ₹1,000 crore was allocated to support EV charging infrastructure. “As charging infrastructure in the country has not picked up, the focus on the infra would get significant focus," the person added.
The automobile industry has also put forward suggestions to the government during the initial consultations over the need for further fiscal support to the country’s EV ecosystem.
This story is from the July 31, 2023 edition of Mint Mumbai.
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