The government had a program called FAME II for encouraging electric vehicles. Now, a new plan called EMPS 2024 has started from April to July 2024.
This plan has a budget of Rs 500 crore and aims to encourage people to buy electric two-wheelers (like electric bikes) and three-wheelers (like electric rickshaws) all over the country.
Who will benefit from this?
The EMPS scheme plans to help 3,72,215 electric vehicles, including two-wheelers and three-wheelers. But the government says only vehicles with advanced batteries will get this benefit.
What’s the benefit?
In this new plan, people buying two-wheelers will get up to ₹10,000 off to help buy around 3.33 lakh electric bikes.
Also, those buying small three-wheelers like e-rickshaws and e-karts will get up to Rs 25,000 off, which is for about 41,000 vehicles.
And for bigger three-wheelers, there’s a subsidy of up to Rs 50,000.
What did the government say?
Minister Mahendra Nath Pandey said they reduced the subsidy because more people are buying electric vehicles.
They want to make the industry strong and ready for a future without subsidies. The Rs 500 crore budget will help around 4 lakh electric vehicles in four months.
What was FAME II?
EMPS 2024 replaces FAME II, a program launched in 2019 with a budget of around Rs 10,000 crore.
It aimed to support electric buses, three-wheelers, two-wheelers, and passenger cars.
In this year’s budget, Finance Minister Nirmala Sitharaman cut FAME III’s budget by 44% to ₹2,671 crore. However, experts think the government might increase this after the elections.
