• The Parliamentary Standing Committee on heavy industry highlighted that Phase 2 of the FAME scheme to subsidize electric vehicles has achieved only 51.96 per cent of its target.
• It suggested an extension of the FAME II scheme that was to end in 2024.

Data

• Around 1.2 million EVs were registered in India in 2022-23 — 2.7 times of that registered in 2021-22, according to VAHAN.
• As a share of all the vehicle registrations, only 5.6 per cent were EVs in 2022-23.

About FAME

• Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme was formulated by the Union Ministry of Heavy Industries in 2015 to promote adoption of electric / hybrid vehicles in the country.
• At present, Phase-II of the scheme (FAME II) is being implemented for a period of five years from April 1, 2019 with a total budgetary support of Rs. 10,000 crore.
• Focused Areas: (i) Demand Creation, (ii) Technology Platform, (iii) Pilot Project and (iv) Charging Infrastructure.
• Market creation through demand incentives was aimed at incentivizing all vehicle segmentse. 2-Wheelers, 3-Wheelers Auto, Passenger 4-Wheeler vehicles, Light Commercial Vehicles and Buses.
• Phase II: Incentives are applicable mainly to vehicles used for public transport or registered for commercial purposes.
• The benefits of incentives will be extended to vehicles fitted with advanced batteries like Lithium-Ion batteries.