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Analysts said the government is likely to focus on boosting rural consumption and this is expected to benefit rural-focused two-wheeler and entry-level four-wheeler companies
While 2023 was an encouraging year for EVs in terms of sales volume, industry stakeholders expect the government to give the segment a boost through the regulatory framework.
The budget is expected to allocate INR 10,000-12,000 crore for the scheme. The decision to launch FAME III follows demands from the industry to continue the programme.
The government could set aside Rs 10,000-12,000 crore for the third installment of the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme.
Budget News: According to ET, because the finance ministry hasn't approved FAME III, there's a suggestion to extend the current edition until a new framework is in