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EV New Scheme: Officials in the Ministry of Heavy Industries (MHI) said on Friday that the allocation of INR 2,671.33 crore under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme for fiscal 2024-25 will be utilised to subsidise EVs sold till March 31, 2024.
In the previous Budget, the allocation had seen a sizeable increase of 78 percent year-on-year
Companies involved in the charging space also gained after the announcement
Budget Expectations: Leading firms in the automobile industry are expecting the upcoming Interim Budget to focus on promoting green mobility and infrastructure development. They are calling for policies that encourage the adoption of electric vehicles and a rationalized duty structure and GST for luxury cars. The industry also hopes for consistent policies and no surprises in the budget. Additionally, there are expectations for continued support for electric vehicles through the FAME scheme and addressing GST anomalies in self-drive cars.
The L-G lauded agencies including the DDA, PWD, NDMC, MCD, and Delhi Police among others, their employees, workers, and the people of the NCR for successfully partnering to get Delhi ready to be able to successfully host the Summit.