Heavy industries ministry announces Rs 500 crore scheme to promote e-mobility
The new scheme is for 2-wheelers and 3-wheelers.The second phase of FAME-II or Faster Adoption and Manufacturing of Electric Vehicles in India programme ends on March 31, 2024.
)
The heavy industries ministry on Wednesday announced a new scheme to promote e-mobility in the country with an outlay of Rs 500 crore for four months beginning April 2024.
The new scheme is for 2-wheelers and 3-wheelers. The second phase of FAME-II or Faster Adoption and Manufacturing of Electric Vehicles in India programme ends on March 31, 2024.
Announcing E-Mobility Promotion Scheme 2024 (EMPS 2024), Heavy Industries Minister Mahendra Nath Pandey said the Modi government is committed to promoting e-mobility in the country.
The scheme will be for four months till July 2024, the minister said. Under the scheme, a support of Rs 10,000 per 2-wheeler will be provided.
The aim is to provide support for about 3.3 lakh 2-wheelers.A support of Rs 25,000 will be given for purchase of small three-wheelers (e-rickshaw and e-carts). More than 31,000 such vehicles will be covered.
The financial support will be Rs 50,000 on purchase of a large three-wheeler.Subsidies under the second phase of the FAME scheme will be eligible for e-vehicles sold till March 31, 2024, or till the time funds are available.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES

8th Pay Commission: Can basic salary limit cross Rs 6.40 lakh mark in new pay commission? Know why it may be possible

Retirement Planning: How one-time investment of Rs 10,00,000 can create Rs 3,00,00,000 retirement corpus

Revised New Tax Regime Slabs: Is your annual income Rs 12,90,000? Will you be taxed on Rs 15,000, or Rs 12,9000? Know here

Rs 3,000 Monthly SIP for 30 Years vs Rs 30,000 Monthly SIP for 10 Years: Know which one can give you higher returns in long term
06:17 PM IST