In a major milestone for India’s sustainable mobility plan, the FAME-II Scheme has rewarded 16.15 lakh EVs in the first year of operation.
This achievement reaffirms the country’s focus on cutting carbon emissions and promoting sustainable mobility.
What is the FAME-II Scheme?
The FAME-II Scheme was launched in 2019, and it forms the core of India’s electric mobility mission.
It subsidises electric 2-wheelers, 3-wheelers, 4-wheelers, and buses to bring EVs closer to the masses.
As of 31 October 2024, the government had invested INR 8,844 crore in the scheme, including INR 6,577 crore in subsidizing vehicles and INR 2,244 crore in creating infrastructure.
Main Results of the FAME-II Programme
The most successful are electric two-wheelers at 14.27 lakh units.
Electric three-wheelers, four-wheelers and buses are also popular, and 1.59 lakh, 22,548, and 5,131 vehicles respectively were incentivised.
Facilitating Infrastructure Development Under FAME-II Scheme.
The FAME-II Scheme has also helped accelerate EV charging infrastructure.
So far, 10,985 public charging stations have been approved out of which 8,812 are set to be installed asap.
This increase is crucial for reducing range anxiety and encouraging EV adoption.
PM E-DRIVE Goes Alongside the FAME-II Program
To further spur the EV revolution, on 29 September 2024, the Ministry of Heavy Industries launched the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme.
This programme works in tandem with FAME-II Scheme to build charging infrastructure and strengthen India’s EV manufacturing sector.
Budget of Rs 10,900 crore over two years of which INR 2,000 crore is earmarked for the public charging stations.
Policy Support and GST Benefits
It’s not just the numbers that have made the difference with the FAME-II Scheme.
It has influenced GST reductions for EVs, and spurred state-based EV policies, creating an atmosphere conducive to sustainable mobility.
First introduced in 2015, the first stage of the scheme laid the groundwork for the solid second stage, which started in 2019 with a budget of INR 11,500 crore.
Resilient Future through the FAME-II Project
The government’s active intervention has been widely praised.
Incentives under the FAME-II Scheme have sparked the desire among citizens and businesses to opt for electric transportation in line with India’s vision of green development.
FAME-II Program Helps India To Go Green
With India closer to its environmental targets, the FAME-II Scheme is an integral part of India’s electric vehicle policy.
Through aggressive EV adoption and infrastructure funding, India will be on the leading edge of the world’s transition to sustainable transport.
Providing incentives to more than 16 lakh EVs and increasing the number of charging stations is just the beginning.
The FAME-II Scheme and other complementary measures such as PM E-DRIVE reflect India’s uncompromising focus on a greener future.
