Context

Fame-2 incentive scheme for electric vehicles extended by two more years.

• Initially to be implemented over a period of three years from April 1, 2019, it will now be in force for up to March 31, 2024.

About

FAME SCHEME

• FAME India is a part of the National Electric Mobility Mission Plan. Main thrust of FAME is to encourage electric vehicles by providing subsidies.
• The FAME India Scheme is aimed at incentivizing all vehicle segments.
• Two phases of the scheme:
  • Phase I: started in 2015 and was completed on 31st March 2019
  • Phase II: started from April 2019, will be completed by 31st March 2022 (now extended to March 2024)
• The scheme covers Hybrid & Electric technologies like Mild Hybrid, Strong Hybrid, and Plug-in Hybrid & Battery Electric Vehicles.
• Monitoring Authority: Department of Heavy Industries, the Ministry of Heavy Industries and Public Enterprises.
• Fame India Scheme has four focus Areas:
  • Technology development
  • Demand Creation
  • Pilot Projects
  • Charging Infrastructure

Objectives of FAME Scheme:

• Encourage faster adoption of electric and hybrid vehicles by way of offering upfront Incentives on the purchase of Electric vehicles.
• Establish a necessary charging Infrastructure for electric vehicles.
• To address the issue of environmental pollution and fuel security.

What are the Benefits of Fame India Scheme?

Fame India scheme offers the following benefits:

• Issues related to environmental and fuel conservation will be significantly reduced.
• Vehicles from different segments will receive subsidy benefits accordingly.
• Citizens can avail themselves of eco-friendly public transportation.
• This scheme will allow individuals to reap the benefits of renewable energy sources through charging systems.
• The establishment of charging stations in close proximity further encourages individuals to opt for electric vehicles.