Government approves 5,500 crores subsidy on all categories of vehicles

Aug 25 2018 04:09 PM
Government approves 5,500 crores subsidy on all categories of vehicles

For curbing pollution and promoting green vehicles, now subsidy on the purchase of all class electric vehicles, including two-wheelers, three wheels and four wheels will be available. The inter-ministerial panel finalized the framework of the second phase of Fame India Scheme on Thursday. Under this, 5500 crores will be spent in five years.
A government official said that as per the two-wheelers, the incentives will be made available on the purchase of three wheels and four-wheel vehicles. It includes taxi and electric buses. Although the Strong Hybrid vehicles will no longer get any concessions. In the inter-ministerial meeting, the top officials of the other Ministries, including the Finance, Road Transport, Highways and Heavy Industries, attended. The representatives of the Policy Commission were also involved in this. 
At present, incentives are provided on the purchase of string hybrid and electric cars, two wheels and three wheelers under Fame India-1 scheme. Under this scheme, dependent on technology, battery operated scooters, motorcycles from 1800 to 29,000, while on three-wheelers subsidy up to 3300 to 61000 rupees.

Automotive manufacturers claim incentives at the end of every month. In order to promote environmentally friendly vehicles, the government started Fame India Scheme in 2015. This scheme was implemented until September this year or till the second stage was approved. 

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