Govt approves two schemes with outlay of Rs 14,335 crore to promote EVs

12 Sep 2024 Evaluate

The Union Cabinet has approved two major schemes with a total outlay of Rs 14,335 crore to promote use of electric vehicles (EVs), including buses, ambulances and trucks. The two schemes are: PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme with an outlay of Rs 10,900 crore over a period of two years, and PM-eBus Sewa-Payment Security Mechanism (PSM) scheme with a budget of Rs 3,435 crore.

The PM E-DRIVE Scheme is a major decision towards bringing down pollution. Under the scheme, subsidies/demand incentives worth Rs 3,679 crore have been provided for e-2Ws (electric two-wheelers), e-3Ws (electric three-wheelers), e-ambulances, e-trucks and other emerging EVs. The scheme will support 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses. The ministry of heavy industries (MHI) is introducing e-vouchers for EV buyers to avail demand incentives under the scheme. At the time of purchase of the EV, the scheme portal will generate an Aadhaar-authenticated e-Voucher for the buyer.

Further, the PM E-DRIVE allocates Rs 500 crore for the deployment of e-ambulances. This is a new initiative of the central government to promote the use of e-ambulance for a comfortable patient transport. The performance and safety standards of e-ambulances will be formulated in consultation with MoHFW, MoRTH and other relevant stakeholders. Also, Rs 4,391 crore has been provided for the procurement of 14,028 e-buses by state transport undertakings and public transport agencies. The PM E-DRIVE will promote the deployment of e-trucks in the country and Rs 500 crore has been allocated for incentivising e-trucks. The scheme also addresses range anxiety of EV buyers by promoting in a big way the installation of electric vehicle public charging stations (EVPCS).

PM-eBus Sewa-Payment Security Mechanism (PSM) scheme for procurement and operation of e-buses by Public Transport Authorities (PTAs) has an outlay of Rs 3,435 crore to support the roll-out of 38,000 e-buses. This scheme will support deployment of more than 38,000 electric buses (e-Buses) from FY 2024-25 to FY 2028-29. The scheme will support the operation of e-buses for a period of up to 12 years from the date of deployment. At present, the majority of buses operated by PTAs run on diesel/CNG, causing adverse environmental impact.

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