According to official sources, an expenditure finance panel note has been circulated among various ministries by the department of Heavy Industries. The plan is to conclude the inter-ministerial consultations and the finalise the outlay over the next few weeks so that the FAME-III could be rolled out from the start of FY25.
The FAME-II will expire on March 31. The outlay for FAME-III is likely to be around 10,000 crore. Speaking to FE, many OEMs said that their production targets would need to be adjusted as per the parameters of the new scheme.
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