Updated By: LatestGKGS Desk
PM Narendra Modi FAME India scheme 2nd phase launch in September
PM Narendra Modi to launch the 2nd phase of the FAME India scheme in September: Details, Features, Aim, Highlights
Prime Minister Narendra Modi will launch the 2nd phase of the FAME India scheme on 7th September 2018. He will launch the FAME scheme at the inaugural session of 'MOVE', the global mobility summit,
The global mobility summit 'MOVE' will be organised in New Delhi from 7th September to 8 September 2018. The summit will see in attendance several global CEOs from the automotive sector.
The FAME scheme offers incentives for mass adoption of electric vehicles with a budget of Rs 5,500 crores.
The second phase of the FAME scheme channelise for five years will offer a subsidy to all categories of electric vehicles, including two-wheelers, three-wheelers, and four-wheelers including taxis and electric buses that are used in public transportation.
About FAME Scheme
The FAME India scheme was launched by the Indian Government in 2015 to promote eco-friendly vehicles. The main aim of the scheme is to promote green vehicles and check pollution. It will also envisage setting up a massive charging infrastructure to support electric vehicles.
In April, the Union government had extended the ongoing phase 1 of the FAME India scheme by six months till September-end or till its second phase is approved.
The first phase of the FAME scheme was initially proposed for two years till 31st March 2017 but was extended twice for six months up to 31st March 2018.
FAME India phase I: The incentive is being offered on purchase of strong hybrid and electric cars, two-wheelers and three-wheelers under the Faster Adoption and Manufacturing of (Strong) Hybrid and Electric vehicles (FAME India) scheme.
