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Government to Offer INR 1.4 Lakh Subsidy for Electric Vehicles
September 05, 2018
In a bid to promote electric vehicles in India, the government has decided to offer a subsidy of INR 1.4 lakh per electric car, a media report said. The decision was made for the second phase of Faster Adoption and Manufacturing of Electric (and Hybrid) vehicles (FAME) scheme under which the Ministry of Finance will allocate INR 4,500 crores worth of subsidy to electric vehicles.
The maximum subsidy for e-vehicles that one can avail is limited to 20% of the cost of the vehicle. People who are purchasing e-vehicles from Mahindra or Tata can apply for this subsidy.
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