"If the proposal goes through, it could lead to a rise in per-unit cost for consumers, though a larger number of buyers would benefit," the report added.ĭon’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. As per the report, India is proposing to slash the subsidy for electric two-wheelers to 15% of the sale price from 40% at present to spread the incentive to a larger number of vehicles. Download Rise of Nations for free on PC this page will show you how to download and install the full version of Rise of Nations: Extended Edition on PC. The government recently sent notices to Okinawa Autotech and Hero Electric for debarment from the FAME-II Scheme and sought the recovery of incentives claimed since FY 2019-20 after the two companies were found to be violating localisation norms under the scheme, according to reports.īoth companies had denied the allegations.ĮT on May 18 reported that the govt is planning to increase the outlay for electric scooters but with lesser subsidy per vehicle. However, earlier this week, PTI reported that the government may send notices to more companies that have been found violating localisation norms under the Rs 10,000-crore FAME-II scheme seeking to debar them and recover incentives claimed by them since FY 2019-20 The investigation is reportedly coming to an end and the government has cleared six companies of any wrongdoing. It began a probe into the matter earlier this year. The government initially held meetings with company executives.
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