FAME II Amendment

Why in News ? Ministry of Heavy Industry has announced major amendments in ongoing FAME-II scheme. Ministry has fixed incentives for India-made electric two-wheelers. About: With the recent amendments on price side and subsidies government aims to promote electric two-wheeler usage across India. Reduction is price will help in EV adoption and strengthen government’s plans of making India an electric vehicle nation by 2030. What are the recent amendments? Earlier, subsidy rate for electric two-wheelers was Rs 10,000/kWh. It has been increased to Rs 15,000/kWh, which is nearly 40 percent of vehicle cost. Procurement of EVs Central government will procure....Read More