The central government launched the FAME scheme to encourage people to buy electric vehicles. The second phase of which was completed in April To continue the subsidy even if the figure is reduced…
The central government launched the FAME scheme to encourage people to buy electric vehicles. The second phase of which was completed in April The Center has introduced another scheme called Electric Mobility Promotion Scheme or EMPS to continue the subsidy even if the figure is reduced. This time PM E-Drive scheme was launched under the leadership of Prime Minister Narendra Modi in the cabinet meeting as a replacement of FEM.
The Modi government has earmarked Rs 10,900 crore, which will be spent over two years, to boost both the use and demand for electric models in the world's third-largest car industry. Under this scheme, 24.79 lakh electric two-wheelers, 3.16 lakh electric three-wheelers and 14,28 electric buses manufactured in India will get subsidy facilities. However, four-wheeler electric vehicles and hybrid vehicles have been kept out of the scheme.
Union Heavy Industries Minister HD Kumaraswamy said that this new electric vehicle subsidy scheme approved by the Union Cabinet on September 11 will reduce the price of EV two-wheelers by Rs 10,000 per unit. In the first year, each e-bike or e-scooter will get a subsidy ranging from Tk 5,000 to Tk 10,000. In the second year, the subsidy will be from Tk 2,500 to Tk 10,000.
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On the other hand, electric three-wheelers will get a subsidy of Rs 50,000 in the first year and Rs 25,000 in the second year. However, the amount of subsidy on electric buses has not been announced yet. E-vouchers will be issued to purchase electric vehicles from the Union Ministry of Heavy Industries. Customers will get Aadhaar authenticated e-voucher from the portal at the time of purchase. Discount will be available by showing it.
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