Explanation:

Third option is correct.

FAME stands for Fast Adoption and Manufacturing of (Hybrid &) Electric Vehicles.

The FAME India (Faster Adoption and Manufacture of (Hybrid and) Electric Vehicles) Scheme is an incentive scheme for the promotion of electric and hybrid vehicles in the country. Ultimate objective of the scheme is to promote electric mobility and the scheme gives financial incentives for enhancing electric vehicle production and creation of electric transportation infrastructure.

FAME was launched by the Ministry of Heavy Industries and Public Enterprises in 2015 to incentivize the production and promotion of eco-friendly vehicles including electric vehicles and hybrid vehicles.