In a written reply to the Rajya Sabha, the Minister of State for Steel and Heavy Industries Shri Bhupathiraju Srinivasa Varma announced that the Government of India has reimbursed ₹6,942.32 crore in subsidies to electric vehicle (EV) manufacturers under the FAME-India Scheme phase-II over the past five years.
The FAME-India (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) Scheme Phase II focuses on encouraging the adoption of electric and hybrid vehicles by providing direct incentives to consumers. When consumers purchase these vehicles, they benefit from an upfront reduction in the purchase price, which is later reimbursed to the Original Equipment Manufacturers (OEMs) by the government.
Here is a breakdown of the subsidies provided across different vehicle segments from April 1, 2019, to March 31, 2024:
- e-2 Wheelers (e-2w): ₹4,375.59 crore
- e-3 Wheelers (e-3w): ₹845.61 crore
- e-4 Wheelers (e-4w): ₹399.12 crore
- Electric Buses (e-buses): ₹1,322.00 crore (released to State Transport Units)
The FAME-India Scheme phase-II aims to promote the broader adoption of electric and hybrid vehicles, thereby contributing to reducing vehicular emissions and achieving environmental sustainability goals.
