FAME India scheme will extend by up to 6 months

Here’s some good news for the electric and hybrid vehicles/technologies industry and those planning to enter it. FAME India scheme – the government’s flagship programme to promote the electric and hybrid vehicles industry in the country – has received a formal extension from the concerned ministries (finance, power and heavy industries). The scheme could extend by three-six months. A notification to this effect is expected soon. Phase I of the scheme that was introduced on April 1, 2015, ends on March 31, 2017.

In a PTI report of March 21, Babul Supriyo, Minister of State for Heavy Industries and Public Enterprises, was quoted as saying in a written reply to the Lok Sabha that the department of heavy industry has provided demand incentives of Rs 127.77 crore for purchase of 111,897 electric/hybrid vehicles under the scheme till now.

The FAME India scheme is also set to see the expansion of its purview. In the modified version, the scheme will include incentives for electric buses and could also extend to intra-city commercial vehicles, including three-wheelers and taxis. The intent of the government is to include those segments of vehicles that will make a significant positive impact on the environment and the fuel bill of the country by going electric. That means, if you are planning to buy an electric car/two-wheeler, don’t expect any further incentive but significant benefits could be on the way for a new set of people who are in the business of moving people or goods, mainly within city limits.