Electric Two Wheelers and Three Wheelers: The Central Government has announced a new scheme to increase the sales of electric two wheelers and three wheelers. Under this Rs 500 crore scheme, electric two-wheelers and three-wheelers will become cheaper. This Electric Mobility Promotion Scheme (EMPS) scheme will be implemented from April 1 and will be valid for 4 months.
Sales of two wheeler and three wheeler will increase
Heavy Industries Minister Mahendra Nath Pandey said on Wednesday that Rs 500 crore has been released for the EMPS scheme. This will help in increasing the sales of electric two wheelers and three wheelers in the country. In February 2024, the government had increased the allocation under the FAME 2 (FAME-II) scheme to Rs 11500 crore. Earlier the budget of this scheme was Rs 10 thousand crores. The Ministry of Heavy Industries had said that this subsidy will be applicable on two wheelers, three wheelers and cars sold till March 31, 2024.
The budget of Fame India Scheme was increased
Under the Fame India Scheme, the subsidy for electric two, three and four wheelers was revised to Rs 7048 crore. Out of this, Rs 5311 crore was for electric two wheelers. Also, Rs 4048 crore was given to build electric bus and EV charging station. The aim of the Fame India Scheme is to provide subsidy to EVs and chargers in the country so that their sales can increase. Apart from this, manufacturing of EV parts in the country is also encouraged under this scheme. Rs 5,829 crore distributed as subsidy. /h3>
Under FAME 2, which was started in the year 2019, till now subsidy has been provided to about 12 lakh EV two wheelers, 1.41 lakh three wheelers and 16,991 four wheelers. Subsidy worth more than Rs 5,829 crore has been distributed under the Fame 2 scheme. This is the reason why the demand for EV vehicles has increased for some time. According to the report of Economic Times, big players like Ola Electric, Ather Energy and Bajaj have entered this sector. This has helped in reducing the price difference between battery-powered and petrol-powered two-wheelers. Besides, the support being received from the government is also proving helpful in promoting EV vehicles.
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