CURRENT AFFAIRS

Detailed explanation-1: -India’s federal government has allocated INR 51.72 billion (approx. US$631 million) towards its flagship scheme, FAME-II, for subsidizing and promoting the adoption of clean energy vehicles. FAME-II stands for the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle in India.

Detailed explanation-2: -The Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme was launched in April 2015 under the National Electric Mobility Mission, to encourage electric and hybrid vehicle purchase by providing financial support. Its first phase ran for four years until 2019.

Detailed explanation-3: -To reduce pollution caused by diesel and petrol-operated vehicles and to promote manufacturing of electric and hybrid vehicles, the Central Government launched the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India)1 Scheme in 2015.

Detailed explanation-4: -Under FAME-India Scheme, incentives are provided to buyers of electric vehicles in the form of an upfront reduction in the purchase price of electric vehicles. The incentive is linked to battery capacity i.e. Rs. 10, 000/KWh for e-3W and e-4W with a cap 20% of the cost of vehicle.

Detailed explanation-5: -At present, Phase-II of the FAME India scheme is being implemented for a period of five years from April 1, 2019 with a total budgetary support of Rs 10, 000 crore.