FAME 3.0: Centre will take a call only if funds in surplus, say officials

Concerns regarding strict domestic value addition (DVA) clauses in the scheme have been addressed in the SOPs

The Centre will take a call on the third leg of the faster adoption and manufacturing of (hybrid &) electric vehicles (FAME) if funds are left at the end of the current fiscal year, senior government officials told Business Standard.

“The aim is to exhaust all the remaining funds by the end of this fiscal year. However, if not spent, the Cabinet will have to take a call on extension,” a senior official said.

This came after electric vehicle (EV) makers told the heavy industries ministry that they would be devoid of incentives once the FAME II lapsed.

“There is a sentiment that