Uttar Pradesh implements FAME II guidelines for hybrid vehicles

The auto industry, represented by SIAM, is advocating for incentives to promote electric vehicles (EVs) and additional benefits for vehicle scrappage in the upcoming Budget. They are urging the government for a FAME-3-like policy to support EVs and to enhance incentives for scrapping vehicles. This push aligns with the emphasis on a growth-oriented Budget with increased capital expenditure allocation. SIAM's President, Vinod Aggarwal, highlighted the importance of these measures to stimulate the economy and boost sectors like automotive and FMCG. The expected FAME 3 scheme aims to provide financial incentives for electric two-wheelers, three-wheelers, and government-owned buses, succeeding the previous FAME 2 scheme. The industry's call for continued support reflects a broader focus on capital expenditure's positive impact on various economic segments.