Question : Growth of Electric Vehicles

(a) whether electric vehicles sector in the country has been growing rapidly;
(b) if so, whether the Government is planning to set up an institution to finance businesses with a focus on electric vehicles and lending to the public transportation and commercial vehicle segment and if so, the details thereof;
(c) the time by which a final decision is likely to be taken in this regard;
(d) whether the Government is also planning to give incentives for construction of equipment for vehicles to encourage their conversion into electric mode; and
(e) if so, the details thereof along with the time by which a final decision is likely to be taken in this regard?

THE MINISTER OF ROAD TRANSPORT AND HIGHWAYS

(SHRI NITIN JAIRAM GADKARI)

(a) In order to boost the growth of electric vehicles , the Ministry of Heavy Industries (MHI) has formulated a scheme, namely, Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme in 2015. At present, Phase-II of FAME India Scheme is being implemented w.e.f. 01st April, 2019 for a period of 5 years with a total budgetary support of Rs. 10,000 crores.
(b) and (c) No such scheme is under implementation.
(d) and (e) No such scheme is under implementation.
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