FAME INDIA PHASE II

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Context: The Parliamentary Standing Committee's recommendations concerning the extension of the FAME-II Scheme and the broader encouragement of electric vehicle (EV) adoption seem quite comprehensive.

Key recommendations of the Parliamentary Standing Committee

FAME-II Scheme Extension

• Suggests extending the FAME-II Scheme for at least three more years beyond the current deadline of March 31, 2024.
• Recommends restoring subsidies on electric two-wheelers to maintain momentum in EV penetration.
• Proposes broadening the scheme's scope, including private electric four-wheelers, with considerations based on vehicle cost and battery capacity.

Charging Infrastructure Incentives

• Recommends incentivizing the installation of charging stations, including support for individual investors, women's self-help groups, and cooperative societies.
• Suggests involving public sector undertakings and government institutions in installing charging stations on their premises.

Industry Support and Stability

• Emphasizes the need for supportive government frameworks and dedicated manufacturing hubs for EV components to boost India's EV industry.
• Stresses the importance of consistent and stable national policies to eliminate market uncertainties and create a conducive environment for the EV industry.

The committee's focus on not just incentivizing EV purchases but also expanding charging infrastructure and ensuring policy stability reflects a comprehensive approach toward fostering EV adoption in India.

Must Read Articles:

FAME INDIA PHASE II: https://www.iasgyan.in/daily-current-affairs/fame-ii-scheme

Parliamentary Standing Committee: https://www.iasgyan.in/daily-current-affairs/parliamentary-committees-33#:~:text=There%20are%20two%20types%20of,after%20they%20complete%20their%20task.

Electric Vehicles: https://www.iasgyan.in/blogs/electric-vehicles-22