Budget likely to drive-in enhanced sops for Electric vehicle manufacturing | Master Stroke

Electric vehicle manufacturing is likely to get a boost from the full Budget 2019-20.

According to highly-placed sources, tax incentives and other sops might be given to the industry for manufacture of EVs in the Budget 2019-20 which will be presented to the Parliament on Friday.

In 2015, the Faster Adoption and Manufacturing of Electric vehicles (FAME) scheme was launched with an outlay of Rs 795 crore. The initial outlay was for a period of two years, commencing from April 1, 2015, but was extended up to March 31, 2019.