Government extends second phase of FAME scheme by two years for EVs

The central government has extended the second phase of the Faster Adoption and Manufacturing of Electric Vehicles scheme till March 31, 2024. The scheme was originally proposed to be implemented over three years starting from April 1, 2019. However, the demand for EVs was severely affected during the pandemic, and the extension was provided so that the amount allocated under the scheme could be deployed to accelerate the demand for EVs.