Fame II Subsidy: To promote electric vehicles, the government gives subsidy and other concessions. Girish Wagh, executive director of Tata Motors, believes that this subsidy should continue for the time being.
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EV Subsidy: People Electric Vehicles in India (Electric Vehicles) are showing interest in buying. Their demand is increasing a lot in the market. Especially the trend of electric two-wheeler is increasing rapidly. Apart from subsidy, the government is also encouraging more and more people to buy electric vehicles by giving concession in road tax and registration fees. Whereas, on February 1, Finance Minister Nirmala Sitharaman Budget 2023 Will present The hopes of the auto sector are also tied to the upcoming budget. At the same time, Girish Wagh, executive director of Tata Motors, says that the subsidy on EVs should continue for the time being.
To promote electric and zero-emission vehicles in the country, schemes like FAME II should be continued till the penetration of such vehicles reaches a certain limit with a better level of localisation. Girish Wagh, Executive Director of Tata Motors has said this.
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Electric buses also get subsidy
Wagh told PTI that the FAME-2 scheme is ending next year, so its extension should also be considered. In this, big electric buses should be included to avail the subsidy. It is noteworthy that apart from promoting electric vehicles in the country, the second phase (FAME-II) of their adoption and manufacturing was approved in 2019.
Government did a great job
He said, the government has done a great job in promoting the demand for electric vehicles (EV) or zero-emission vehicles. The government has taken many policy measures in addition to FAME phase one, phase two, state level incentives or Production Linked Incentive (PLI) scheme. Wagh said, it is expected from our government that it should be continued till the penetration of EVs crosses a particular threshold, where the level of localization is also good.
FAME II subsidy till 2024
He further said that these measures of the government will also solve the issues of concern of the customers on a large scale. Wagh said that the government should discuss the scheme with the industry whether it is appropriate to include these vehicles for subsidy under the fame-two scheme. In 2021, the government had extended the Rs 10,000 crore fame-to scheme till March 31, 2024.
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