Electric Vehicle (EV) There is good news for buyers. The Union Ministry of Heavy Industries has extended the ‘Electric Mobility Promotion Scheme-2024’ (EMPS 2024) till 30 September. Earlier this scheme was ending on 31 July. Under this scheme, EV buyers are given subsidy by the government. This reduces the price of electric vehicles. It is worth noting that the government is continuously promoting EVs. The government’s goal is to increase the purchase of EVs in place of petrol and diesel vehicles, so that rising pollution can be controlled.
The budget was increased to Rs 778 crore
The government had implemented this scheme from April 1 to July 31 with a budget of Rs 500 crore. Now, to run the scheme for two months more, the government has increased the budget of the scheme from Rs 500 crore to Rs 778 crore.
Government will give subsidy to 5,60,789 EV vehicles
Under ‘EMPS 2024’, the government will now provide subsidy to 5,60,789 EV vehicles. This will include 5,00,080 two-wheeler electric vehicles, 60,709 three-wheeler electric vehicles and 47,119 L5 category three-wheelers. The government had initially set a target of providing incentives to 3,33,387 two-wheeler electric vehicles and 40,828 three-wheelers under the ‘EMPS 2024’ scheme with a budget of Rs 500 crore.
It was launched on March 13
‘EMPS 2024’ was launched on March 13. The scheme was brought in as a temporary arrangement before the end of FAME-II, which ended on March 31. Under this scheme, incentives are given for electric two-wheelers and electric three-wheelers. Under the new target of this scheme, the government will now provide subsidy and demand incentives of Rs 769.65 crore to two-wheelers and three-wheelers. The remaining Rs 8.35 crore has been kept for the implementation of this scheme.
Input: IANS
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