 "H D Kumaraswamy, Kumaraswamy")
Asked whether his ministry has recommended a reduction of taxes on hybrid vehicles, he said,”Let’s see. Next week budget presentation is there.” (Photo: PTI)
The government is working on the FAME III scheme for promotion of electric mobility and it is likely to be implemented in the near future, Union Minister HD Kumaraswamy said on Tuesday.
The third phase of Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme will, however, not be featured in the upcoming Union Budget, the Minister for Heavy Industries and Steel told reporters here on the sidelines of an event organised by auto industry body SIAM.
“Already preparatory work is going on. All the several ministries have recommended how to implement the FAME III programme. In future, some months or some future days it is going to be implemented,” he said when asked about the demand from the auto industry on FAME III scheme.
Asked if FAME III will be announced in the budget, he replied in the negative.
Earlier this year, the heavy industries ministry had announced that subsidies under the second phase of FAME scheme would be eligible for e-vehicles sold till March 31, 2024 or till the time funds are available, whichever is earlier while also enhancing outlay of the programme from Rs 10,000 crore to Rs 11,500 crore.
On the issue of reduction of taxes on hybrid vehicles, Kumaraswamy said it will be discussed under the leadership of Prime Minister Narendra Modi, who will take a decision on the roadmap ahead, and the finance ministry will work on it.
To a query on whether American electric carmaker Tesla has communicated to the government about its intention to invest in India under the new EV policy, he said nothing has been discussed yet.
While addressing the event on an EV ready workforce in India’s automobile sector, Kumaraswamy said India stands to gain significantly from embracing electric mobility. It is a journey that promises economic growth, environmental sustainability and enhanced energy security.
“Our workforce must be prepared to handle the unique challenges and opportunities in fulfilling India’s ambitious goal of electric mobility,” he asserted.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Jul 16 2024 | 1:52 PM IST
