Current Affairs - Miscellaneous - Discussion

Discussion :: Miscellaneous - Latest Current Affairs (Q.No.644)

644. 

Under which scheme does,Central Government has made compulsory for Electric Vehicle (EV) manufactures in India to locally source at least 50% components for receiving subsidies?

[A]. Jago Grahak Jago
[B]. FAME II
[C]. FAME I
[D]. Kishore Vaigyanik Protsahan Yojana

Answer: Option B

Explanation:

Under the FAME II scheme, the Central Government has made compulsory for Electric Vehicle (EV) manufactures in India to locally source at least 50% components for the provision of receiving subsidies. This step has been taken to encourage local manufacturing and relying less on imports. The conditions under FAME II scheme were decided by the Inter-Ministerial Steering Committee of National Mission for Transformative Mobility headed by Amitabh Kant, (Chief executive Officer) CEO of NITI Aayog.Only the companies that meet the 50% localisation threshold will be eligible for incentives and subsidies under Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II) scheme for enhancing electric mobility.

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