Government Encourages Electric & Hybrid Vehicle Sales By Launching FAME India Scheme
Published On Apr 10, 2015 12:00 AM By Pradeep Shahfor Hero Electric E Sprint
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Amidst day to day hike in fuel prices, Shri Anant Geete, Union Minister of Heavy Industries and Public Enterprises launched a scheme for Faster Adoption and Manufacturing of Hybrid & Electric Vehicles in India, known as FAME India. Under this initiative, the consumer as well as the manufacturer would be getting an incentive from the government during an electric or hybrid vehicle purchase. The scheme was launched in association with Society of Indian Automobile Manufacturers (SIAM) and is expected to bring a Green Revolution in the country.
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FAME India will be implemented six years from now, i.e. till 2020, aiming at 60-70 lac unit sales per year. The first phase of the scheme will run during a two year financial year period for FY15-16 and FY16-17. The government has already allocated Rs. 75 crores out of a total budget of Rs. 795 crores for the first two fiscal years. On the occasion, Mr. Geete further revealed that the scheme would primarily focus on four major areas namely:
1. Cities under "Smart Cities" initiatives
2. Major metro agglomerations - Delhi NCR, Greater Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Ahmedabad
3. All State and other Urban Agglomerations/Cities with 1 million population (as per 2011 census)
4. Cities of the North Eastern States
Based on the results of the first phase, further funding will be allocated post March 31, 2017 after detailed reviewing.
Both the customer as well as the manufacturer will be eligible to receive incentives from the government. While the buyer will get it at the time of buying the vehicle, the manufacturer can claim for it at the end of the respective month.
As per the scheme, all type of electric and hybrid vehicles would be getting the advantage depending on the type of technology used in them. Lets take a glance at the category-wise benefits offered for different vehicles :
| 1 | Scooters and Motorcycles | Rs. 1,800 to Rs. 29,000 |
| 2 | Three Wheelers | Rs. 3,300 to Rs. 61,000 |
| 3 | Four Wheelers | Rs. 13,000 to Rs. 1.38 lac |
| 4 | Light Commercial Vehicles | Rs. 17,000 to Rs. 1.87 lac |
| 5 | Buses | Rs. 34 lacs to Rs. 66 lacs |
The figures look appealing and the FAME India scheme can definitely pave way for a Greener Future in the country.