The Ministry of Heavy Industries (MHI) has come up with three proposals for the third iteration of the flagship government scheme to push electric vehicle adoption, according to people in the know.
The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) 3.0 is likely to be announced in the Union Budget 2024.
One of the proposals includes plans to incorporate vehicles powered by alternative sources such as hydrogen and biofuels, according to a senior government official.
Money matters
The three proposals are likely to have a budget of 12,600 crore to over 30,000 crore, sources told Business Standard.
The MHI has in-principle approval for ₹10,000 crore from the finance ministry's Department of Expenditure for the FAME scheme.
This story is from the June 17, 2024 edition of Business Standard.
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This story is from the June 17, 2024 edition of Business Standard.
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