5th September 2024 (11 Topics)
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FAME Policy for Electric Vehicles
Context
The government is expected to finalise the third phase of its flagship electric mobility adoption scheme FAME. FAME 3 will replace the temporary Electric Mobility Promotion Scheme (EMPS) 2024, which is set to expire in September.
About Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME)
- Fame India scheme is an incentive scheme that encourages the adoption of electric and hybrid vehicles.
- It was launched by the Ministry of Heavy Industries and Public Enterprises.
- Manufacturers and infrastructure providers of electric vehicles receive this incentive in the form of subsidies.
- Fame India scheme is a part of the National Electric Mobility Mission
- Fame India Scheme operates in two phases. These are,
- Phase I: The first phase of Fame India Scheme started in 2015 and was functional till 31st March 2019.
- Phase II: The second phase of this scheme started in April 2019 for three years. It was later extended up to March 2024 with an additional outlay of Rs 1,500 crore.
Other Government Schemes for EVs
- Production Linked Incentive (PLI) Scheme for Automotive Sector: The Government approved the PLI Scheme for Automotive Sector in 2021 with a budgetary outlay of Rs. 25,938 crores to support domestic manufacturing of vehicles. Electric vehicles are covered under this PLI scheme.
- PLI Scheme for Advanced Chemistry Cell (ACC): The Government approved PLI Scheme for manufacturing of ACC for 50 GWh in the country. Additionally, 5GWh of niche ACC technologies is also covered under the Scheme.
- GST on EVs has been reduced from 12% to 5%; GST on chargers/ charging stations for EVs has been reduced from 18% to 5%.
- Ministry of Road Transport & Highways (MoRTH) announced that the battery-operated vehicles will be given green license plates and be exempted from permit requirements.
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