Consider the following statements FAME II scheme came into force from April 1 2019 The main objectiv...........

Rajasthan Economy

Download Solution PDF

Consider the following statements:

FAME-II scheme came into force from April 1, 2019
The main objective of the scheme is to encourage faster adoption of electric and hybrid vehicles by offering incentives on the purchase of electric vehicles.

Which of the above statements is/are correct?

1 only

2 only

Both

None

छोटे Courses बड़े Results

Master Economy

Prepare through Micro-courses

Try Now

Explanation:

Government of India notified FAME India Scheme [Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India] for implementation with effect from 1st April 2015, with the objective to support hybrid/electric vehicles market development and Manufacturing eco-system.

In February 2019, the Union Cabinet cleared a Rs 10,000-crore programme under the FAME-II scheme.

This scheme came into force from April 1, 2019.

The main objective of the scheme is to encourage faster adoption of electric and hybrid vehicles by offering upfront incentives on the purchase of electric vehicles and also by establishing necessary charging infrastructure for EVs.