Extension of FAME scheme

• The government has decided to extend the Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME) scheme by six months until 30 September 2018, or till the time the second phase of the scheme is approved by it.

About FAME India scheme:

• 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.
• The Department of Heavy Industries under the aegis of Union Ministry of Heavy Industries is the nodal department for the 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.

By: Vishal