FAME-3 scheme may get approval in one to two months, Union Heavy Industries Minister Kumaraswamy gave information

The subsidy is given by the government to promote electric vehicles in India. At present, subsidy is being given through EMPS but FAME-3 can be introduced soon. By when can the FAME-3 Scheme be introduced to promote EVs. What information has been given by the Union Minister. We are telling you in this news.

Union Heavy Industries Minister H D Kumaraswamy on Wednesday said the government will finalize the third phase of its flagship electric mobility adoption scheme FAME in a month or two. He said an inter-ministerial group is working on the inputs received for the scheme, and efforts are being made to resolve issues in the first two phases of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME) scheme.

Union Minister Kumaraswamy said that many suggestions are coming on FAME 3 as we are working on how to isolate whatever shortcomings there are in FAME 1, and FAME 2. Even the PMO has given some suggestions, our inter-ministerial group is working on it. When asked about the timeline of FAME 3, the minister said, "I think it will be approved within a month, two months."

Presently, the Center Government is providing subsidies on electric two and three-wheelers under the Electric Mobility Promotion Scheme-EMPS 2024. Under this scheme, the government is offering a maximum subsidy of Rs 10-11 thousand on an electric two-wheeler. At the same time, a subsidy of up to Rs 50 thousand is being provided for three-wheelers.

FAME 3 will replace the ad hoc Electric Mobility Promotion Scheme 2024, which is set to expire at the end of this month. The government introduced the EMPS for four months starting in March 2024 itself. But later, it was extended up to 30 September 2024.

The government started the first phase of the Fame subsidy in the year 2015 with the motive of promoting electric vehicles. This scheme was implemented for two years the lines from April 1, 2015, onwards but was extended to 31 March 2019 considering the increasing interest of the people. During this period about Rs 529 crores were provided as funds.

FAME-Phase-II was sanctioned for three years with an initial outlay of Rs 10000 crore in the year 2019. Later, FAME-II was extended up to March 2024 with an additional outlay of Rs 1500 crore. Its initial targets were the assistance of 10 lakh electric two-wheelers, 5 lakh electric three-wheelers, 55000 passenger cars, and 7000 electric buses.