Under FAME II, 70% funds remaining to be utilized
Under FAME II, 70% funds remaining to be utilized The Government of India (GoI) approved the scheme titled ‘Faster Adoption and Manufacturing of Electric (& Hybrid) Vehicles in India’ (FAME India) in March 2015 for a period of 2 years. On 8th March 2019, the Ministry of Heavy Industries (MHI) notified Phase-II of the Scheme for a period of 5 years, commencing from 1st April 2019, with an outlay of INR 10,000 crore. The FAME II subsidy is a crucial…