A meeting of the Union Cabinet is on Wednesday expected to approve a new scheme for promoting electric vehicles (EVs), 'Business Standard' has learnt from sources.
A budget of Rs 10,900 crore is likely to be sanctioned for the new scheme, according to the sources. The scheme will replace the previous Faster Adoption and Manufacturing of Electric Vehicles (FAME), which was introduced in 2015 with an initial outlay of approximately Rs 900 crore. It was followed by FAME-II which had an outlay of Rs 11,500 crore.
The government is likely to give a new name for the