FAME-II: Some companies were doing ‘games’ to get subsidy, now the government has taken a tough decision

[ad_1]

FAME-II Scheme: The government will issue notices to companies found involved in violation of localization norms under the FAME-2 scheme brought to promote the manufacturing and adoption of electric vehicles. A senior official said that this action is being taken to ban the companies found guilty and to recover the incentive amount taken from the financial year 2019-20.

The government had recently issued a notice for recovery of incentive amount along with banning Okinawa Autotech and Hero Electric from this scheme. However, both the companies have denied the allegations of violating localization norms.

The official said on the condition of anonymity that some other companies have also received information about their involvement in such work. On this basis, notices will also be sent to these companies. Along with this, the official said that the Ministry of Heavy Industries will soon resume the distribution of subsidy under the FAME-2 scheme.

The government launched the FAME-2 scheme in April 2019 for a period of three years. Later its duration was extended by two years till March 2024. The Rs 10,000-crore FAME-2 scheme was launched to promote public and commercial transport in electric buses, apart from electric three-wheelers and electric four-wheelers. Its benefits are available for privately owned electric two wheelers.

[ad_2]

Source link