Union Government launches FAME-India scheme to boost electric, hybrid vehicle sales
Union Government on 1 April 2015 launched Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME) – India Scheme.
The scheme was launched as part of the National Mission for Electric Mobility to boost eco-friendly vehicles sales in the country.
Facts about FAME India scheme
- Objective- to support the hybrid or electric vehicles market development and its manufacturing eco-system in the country in order to achieve self-sustenance in stipulated period.
- The overall scheme is proposed to be implemented over a period next 6 years i.e. till 2020.
- It envisages providing Rs 795 crore support till 2020 for the manufacturing and sale of electric and hybrid vehicles.
- It also seeks to provide demand incentives to electric and hybrid vehicles from two-wheeler to buses.
- Implementation- It will be implemented in phases. The Phase-1 will be implemented over a two year period in FY15-16 and FY16-17.
- Based on the outcome and experience from the Phase-1, it will be reviewed for implementation after 31 March 2017. Then appropriate fund will be allocated for future.
- Four focus areas of scheme- Technology development, Pilot Projects, Demand Creation and Charging Infrastructure.
- In the first two years Rs 260 crore and Rs 535 crore will be spent on the focus areas.
The Department of Heavy Industries under the aegis of Union Ministry of Heavy Industries will be will be nodal department for the scheme.
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Month: Current Affairs - April, 2015