Ministry of Heavy Industries extends Phase-II of FAME India Scheme for two years till 2024
- Ministry of Heavy Industries had notified Phase-II of FAME India Scheme for three years from April 2019 to March 2022.
- However, the government has extended the FAME II scheme for 2 years. So now this scheme will be applicable till March 2024.
- Total budgetary support to Phase-II of FAME India Scheme for a period of five years is Rs. 10,000 crore, from financial year 2019-20 to 2023-24.
- Focus area of Phase II will be mainly on supporting electrification of public & shared transportation through demand incentive and creation of a network of charging infrastructure.
- Objective of FAME India Scheme is to promote adoption of electric/ hybrid vehicles (xEVs) in India.
- Phase I of the FAME India Scheme was formulated in 2015, with total budget outlay of Rs 895 crore upto March 31, 2019.
- The main focus of this phase was on four areas i.e. technological development, demand generation, pilot project and charging infrastructure components.
Points to Remember:
- FAME India Scheme is related to which sector?
- How much budget has been allocated to Phase II of FAME India Scheme?
- Phase II of FAME India Scheme has been launched for how many years/for which fiscal years?