Good news: Government Extends Subsidy Duration On Electric Two-Wheelers Till 2024

The Central Government has extended the subsidy for electric two-wheelers under the FAME II scheme for two years. This subsidy will be available to the customers till 2024.

Recently, the government increased the subsidy on electric two-wheelers by 50 percent under the FAME II scheme. The government fixed March 31, 2022, as the deadline for the subsidy. The central government has now increased this deadline to 31 March 2024. The subsidy has been extended for two years. With this subsidy, the government aims to boost the sale of electric two-wheelers. 

Prices reduced 
Recently, making changes in the FAME 2 scheme, the subsidy given on new electric two-wheelers was increased by 50 percent to Rs 15,000 per kWh. Hence, manufacturers of electric scooters in the Indian market like Hero, TVS have reduced the prices. 

This is the government's plan
It is worth noting that the Government of India has been actively promoting electric vehicles for some time now. Therefore, Fame 2 scheme was introduced by the government in the year 2019 with a budget of ten thousand crore rupees. Under this scheme, the government wants to provide subsidies for more than 55,000 passenger vehicles. These include one lakh electric two-wheelers, five lakh three-wheelers, and 7,000 e-Bus. The benefit of this scheme is given only to those vehicles which offer a range of up to 80 km on a single charge and have a top speed of 40 kmph.