ENA Sectors 2024-03-07 17:24:40 <p><span style="font-size:14px"><strong>New Delhi, Mar 7 (KNN)</strong> The government clarified on Thursday that it has not extended the flagship scheme aimed at promoting electric mobility, FAME-II, beyond March 31, according to officials.</span></p> <p><span style="font-size:14px">The Ministry of Heavy Industries refuted media reports alleging that the Centre had granted a temporary four-month extension to the scheme until July 31, with an allocated budget of Rs 500 crore for the specified period.</span></p> <p><span style="font-size:14px">Under the second phase of the FAME Scheme, subsidies will remain applicable for e-vehicles sold until March 31, 2024, or until the funds are exhausted, as stated by the Ministry of Heavy Industries last month.</span></p> <p><span style="font-size:14px">Furthermore, the ministry disclosed that the outlay of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) program has been raised from Rs 10,000 crore to Rs 11,500 crore.</span></p> <p><span style="font-size:14px">Emphasising that the second phase of the FAME-II scheme was fund- and term-limited, the ministry detailed the revised outlay, specifying that electric two-wheelers, electric three-wheelers, and electric four-wheelers are eligible for subsidies totalling Rs 7,048 crore.</span></p> <p><span style="font-size:14px">Additionally, Rs 4,048 crore has been earmarked for grants to support the creation of capital assets, while Rs 400 crore has been allocated for the 'others' category.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 36976 https://knnindia.co.in/news/newsdetails/sectors/no-extension-of-fame-ii-scheme-for-electric-mobility-beyond-march-31 2024-03-07 17:24:40 knnindia.co.in