FAME India

Govt. providing subsidy on Vehicles?

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The Govt. of India has rolled out FAME India a scheme which offers subsidy on Electric Vehicles. Cars include Toyota Camry, Maruti Ciaz, Mahindra Reva to name a few.

FAME India – Faster Adoption and Manufacturing of Hybrid and Electric vehicles in India – is a part of the National Electric Mobility Mission Plan. The scheme envisages Rs 795 crore support in the first two fiscals starting with the current year.

Based on the outcome and experience gained in the first phase, the scheme will be reviewed for implementation after March 31, 2017, with appropriate fund allocation in future.

It entails provision of funds to the tune of Rs 260 crore and Rs 535 crore for the first two years, respectively, to be spent on technology platform (including testing infrastructure); demand incentives; charging infrastructure; pilot projects and operations.