FAME India extends scheme by 6 months

• Published On: 27 March 2017
• 1219 Views

Phase I of the scheme began on April 1, 2015 and ends on March 31, 2017.

The government's flagship project that works to promote electrical and hybrid vehicles in India has finally received a formal extension from the finance, power and heavy industries. An official announcement about this decision is expected to be made soon.

The extensions include some additions - added incentives for electric buses and intra-city commercial vehicles, including three-wheelers and taxis. The government plans to implement the scheme in a way that will reduce India's fuel costs and consumption, as well run on greener power. These new guidelines might be a huge bonus of companies who conduct the business of moving goods or people, mainly within city limits. 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 ₹127.77 crore for purchase of 111,897 electric/hybrid vehicles under the scheme till now.