The Ministry of Heavy Industries has released the budgetary allocation and expenditure details for the Phase-II of the Faster Adoption and Manufacturing of (Hybrid) Electric Vehicles (FAME) program. Here’s a breakdown of the financials:
- 2019-2020:
- Budget Allocation: Rs. 500.00 Crore
- Fund Utilization: Rs. 500.00 Crore
- 2020-2021:
- Budget Allocation: Rs. 318.36 Crore
- Fund Utilization: Rs. 318.36 Crore
- 2021-2022:
- Budget Allocation: Rs. 800.00 Crore
- Fund Utilization: Rs. 800.00 Crore
- 2022-2023:
- Budget Allocation: Rs. 2897.84 Crore
- Fund Utilization: Rs. 2402.51 Crore
- 2023-2024:
- Budget Allocation: Rs. 5171.97 Crore
- Fund Utilization: Rs. 1980.83 Crore (as of 31.01.2024)
Additionally, the Ministry sanctioned 2,877 electric vehicle charging stations in 68 cities across 25 States/UTs. Out of these, 148 charging stations are operational. Rs. 800 Cr. capital subsidy was sanctioned to three Oil Marketing Companies for establishing 7,432 public charging stations.
Under FAME-II, a subsidy of Rs. 5790 crores has been provided to electric vehicle manufacturers based on the sale of 13,41,459 electric vehicles (2-wheelers, 3-wheelers, and 4-wheelers) as of January 31, 2024. Moreover, 6,862 electric buses were sanctioned for intracity operations, with 3,487 already supplied to State Transport Undertakings.
This comprehensive update was presented by the Minister of State for Heavy Industries, Shri Krishan Pal Gurjar, in a written reply in the Rajya Sabha.
