OPEN APP
Home / News / India /  Govt extends Fame scheme till 2024

Govt extends Fame scheme till 2024

Fame scheme has failed to take off with only 5%, or  ₹492 crore, of the  ₹10,000 crore allocated under its second phase spent till March, as reported by Mint earlier.Premium
Fame scheme has failed to take off with only 5%, or 492 crore, of the 10,000 crore allocated under its second phase spent till March, as reported by Mint earlier.

  • Fame or Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (Fame) scheme’s first phase began on 1 April 2015, and was extended till 31 March 2019, and the second phase (Fame-2) that began on 1 April 2019 is to end on 31 March 2022

NEW DELHI: The Union government has extended its ambitious scheme to promote electric mobility by two years till 31 March 2024, according to a notification issued in the Central government’s Gazette of India.

Mint reported on 15 June about the extension plans for the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (Fame) scheme created to curb vehicular emissions and dependence on fossil fuels, by two years till 31 March 2024.

“Now with the approval of the competent authority, it is decided that FAME India Phase II scheme is extended for a period of two years i.e. up to 31 March 2024," the ministry of heavy industries and public enterprises said in a notification issued on Friday.

The scheme’s first phase began on 1 April 2015, and was extended till 31 March 2019, and the second phase (Fame-2) that began on 1 April 2019 is to end on 31 March 2022. However, the scheme has failed to take off with only 5%, or 492 crore, of the 10,000 crore allocated under its second phase spent till March, as reported by Mint earlier.

As per the earlier plan, the scheme run by the department of heavy industries (DHI) was “to be implemented over a period of three years, w.e.f. 1 April 2019, for faster adoption of electric mobility and development of its manufacturing eco-system in the country."

Fame is designed to support the electrification of public and shared transport and help create charging infrastructure. The marquee scheme signals the government’s intent to reduce vehicular emissions and dependence on fossil fuel. Money allocated under Fame-2 is to be spent to subsidize 500,000 electric three-wheelers, 1 million electric two-wheelers, 55,000 electric passenger vehicles, and 7,090 electric buses.

The budgetary allocation of 10,000 crore is for three years to 31 March 2022. With the total expenditure for both phases of the Fame programme at 818 crore till March this year, the budget sought for 2021-22, 2022-23 and 2023-24 is 1,893 crore, 3,775 crore and 3,514 crore, respectively, bringing the total to 9,182 crore.

“Great to see FAME II extended. It will help make EVs accessible to more people. With Ola Futurefactory and our upcoming soon-to-be-launched scooter, we will accelerate this transition," an Ola spokesperson said.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
Get alerts on WhatsApp
My ReadsRedeem a Gift CardLogout