Budget 2024 | India plans to expand EV ecosystem, pushes for greener public transport [Video]

Finance Minister Nirmala Sitharaman, while presenting the Interim Budget on Thursday, February 1, announced that the government plans to expand the electric vehicle ecosystem. The government set aside ₹2,671 crore for the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME India) scheme.

The Finance Minister said the government plans to expand charging infrastructure, as well as encourage the usage of electric mobility in public transport.

“Our government will expand and strengthen the e-vehicle (electric vehicle) ecosystem by supporting manufacturing and charging infrastructure,” Sitharaman said.

According to the minister, this initiative will not only create “entrepreneurship opportunities for a large number of vendors for supply and installation”, as well as “employment opportunities for the youth with technical skills in manufacturing, installation and maintenance.”

In last year’s Budget, the government allocated ₹5,172 crore for FAME II scheme, and further, extended the scheme by a year to incentivise the purchase of electric vehicles. 

As per research …