Government Denies Extension of FAME-II Subsidies Beyond March 31

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In India, there’s a program called FAME-II that helps people buy electric vehicles (EVs). EVs are cars, bikes, and other vehicles that run on electricity instead of gasoline. FAME-II stands for Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles.

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What’s the Buzz?

Recently, there was news that FAME-II might get extended for four months. This got people excited because it meant more time to get subsidies for buying EVs. Subsidies are like discounts given by the government to make things cheaper.

But Wait, It’s Not Happening!

However, the government said this news wasn’t true. They clarified that FAME-II will end on March 31, 2024, as planned. So, no extra time for subsidies.

Also Check:-Vinfast VF3: India’s Game-Changing Affordable Electric SUV Launched with Impressive Features

How Much Money Are We Talking About?

The government has set aside Rs 11,500 crore for FAME-II. That’s a lot of money! It’s like having a big budget to help people buy EVs and make more charging stations.

What’s the Plan?

The government wants more EVs on the roads. By 2030, they aim for 30% of cars, 7% of buses and trucks, and 80% of bikes and scooters to be electric. That’s a big goal!

The Scoop on EV Sales

Even without the extension, more people are buying EVs in India. In 2023, there was a 48% increase in EV sales compared to the year before. That’s a sign that more people are interested in eco-friendly transportation.

Where’s the Money Going?

Out of the Rs 11,500 crore budget, most of it – Rs 7,048 crore – will go to giving discounts on EVs. Another Rs 4,048 crore will be used to build things like charging stations, and Rs 400 crore for other stuff.

What’s Next?

Even though FAME-II is ending soon, the government still wants to support EVs. They’ll keep working on making EVs more affordable and building the infrastructure needed for them. So, even if you can’t get a subsidy later, there will still be help available for going electric.

Conclusion: Going Green with EVs

FAME-II might not be extended, but the support for electric vehicles in India is still strong. With more people choosing EVs and the government’s plans to make them more accessible, it’s clear that electric vehicles are the future of transportation in India.

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