New Delhi, Mar 7 (KNN) The government clarified on Thursday that it has not extended the flagship scheme aimed at promoting electric mobility, FAME-II, beyond March 31, according to officials.

The Ministry of Heavy Industries refuted media reports alleging that the Centre had granted a temporary four-month extension to the scheme until July 31, with an allocated budget of Rs 500 crore for the specified period.

Under the second phase of the FAME Scheme, subsidies will remain applicable for e-vehicles sold until March 31, 2024, or until the funds are exhausted, as stated by the Ministry of Heavy Industries last month.

Furthermore, the ministry disclosed that the outlay of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) program has been raised from Rs 10,000 crore to Rs 11,500 crore.

Emphasising that the second phase of the FAME-II scheme was "fund- and term-limited," the ministry detailed the revised outlay, specifying that electric two-wheelers, electric three-wheelers, and electric four-wheelers are eligible for subsidies totalling Rs 7,048 crore.

Additionally, Rs 4,048 crore has been earmarked for grants to support the creation of capital assets, while Rs 400 crore has been allocated for the 'others' category.

(KNN Bureau)