According to Mahendra Nath Pandey, India's Minister of Heavy Industries, the country has started a new project called the Electric Mobility Promotion Scheme 2024.

This information was released just before the Faster Adoption and Manufacturing of Electric Vehicles (FAME-II) program, which promoted electric vehicles (EVs), was scheduled to end on March 31, 2024. Its expiration date has been extended to July 31, 2024, and it is now known as the Electric Mobility Promotion Scheme 2024.

Incentives totaling ₹333.39 crore have been allocated for electric two-wheelers under this new scheme. Amount allotted: ₹33.97 crore for e-rickshaws and e-carts. An additional ₹126.19 crore would be allocated to encourage the sales of L5 electric three-wheelers, which have a top speed of above 25 km/h. But there wouldn't be any incentives for four-wheelers. Four-wheeled vehicles are eligible for subsidies under FAME II.

Under the proposed system, an electric two-wheeler would receive ₹10,000 in funding, an e-rickshaw or e-cart would receive ₹25,000, and a heavy electric three-wheeler would receive ₹50,000.

The National Automotive Board reports that around 1.47 million vehicles have been sold under phase-II of the FAME plan to date. This figure comprises 18,794 four-wheelers, 150,613 three-wheelers, and 1.3 million two-wheelers. The third phase of the program is still being finalized by the government.

What are the overall benefits of the schemes?
- First and foremost, this scheme promotes environmental protection as the scheme promotes the use of electric vehicles instead of fuel. This will help in saving resources as well as the environment.
-The scheme also focuses on how to benefit the consumer at minimal cost and make it easy for everyone to purchase.
- The scheme will boost economic growth by creating employment at every level by making it possible for middle class people to buy electric vehicles at affordable prices.
-The scheme also promotes green revolution by attracting people towards electric vehicles and reducing pollution in the environment.

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