Government to implement FAME III soon

17 Jul 2024 CW Team

"Preparatory work is already underway. Several ministries have recommended implementation strategies for the FAME III program. It is expected to be implemented in the coming months," Kumaraswamy said when asked about the auto industry's demand for the FAME III scheme.

When asked if FAME III would be announced in the budget, he responded negatively. Earlier this year, the heavy industries ministry extended subsidies under the second phase of the FAME scheme for e-vehicles sold until March 31, 2024, or until funds are depleted, while increasing the program's outlay from Rs 100 billion to Rs 115 billion.

Regarding tax reductions on hybrid vehicles, Kumaraswamy mentioned that the issue would be discussed under the leadership of Prime Minister Narendra Modi, with the finance ministry working on the roadmap. When asked if his ministry had recommended tax reductions on hybrid vehicles, said, "The budget presentation is next week."

On whether American electric carmaker Tesla has communicated its intention to invest in India under the new EV policy, he stated that no discussions have taken place yet.

Addressing the event on preparing India's workforce for the EV sector, Kumaraswamy emphasised the significant benefits of embracing electric mobility for India's economic growth, environmental sustainability, and energy security. "Our workforce must be prepared to handle the unique challenges and opportunities in fulfilling India's ambitious goal of electric mobility," he asserted. (Source:ET)

The government is actively developing the third phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, with plans to implement it in the near future, announced Union Minister HD Kumaraswamy. However, FAME III will not be featured in the upcoming Union Budget, the Minister for Heavy Industries and Steel clarified during an event organised by the auto industry body SIAM. Preparatory work is already underway. Several ministries have recommended implementation strategies for the FAME III program. It is expected to be implemented in the coming months, Kumaraswamy said when asked about the auto industry's demand for the FAME III scheme. When asked if FAME III would be announced in the budget, he responded negatively. Earlier this year, the heavy industries ministry extended subsidies under the second phase of the FAME scheme for e-vehicles sold until March 31, 2024, or until funds are depleted, while increasing the program's outlay from Rs 100 billion to Rs 115 billion. Regarding tax reductions on hybrid vehicles, Kumaraswamy mentioned that the issue would be discussed under the leadership of Prime Minister Narendra Modi, with the finance ministry working on the roadmap. When asked if his ministry had recommended tax reductions on hybrid vehicles, said, The budget presentation is next week. On whether American electric carmaker Tesla has communicated its intention to invest in India under the new EV policy, he stated that no discussions have taken place yet. Addressing the event on preparing India's workforce for the EV sector, Kumaraswamy emphasised the significant benefits of embracing electric mobility for India's economic growth, environmental sustainability, and energy security. Our workforce must be prepared to handle the unique challenges and opportunities in fulfilling India's ambitious goal of electric mobility, he asserted. (Source:ET)

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Infrastructure Urban

01 Jun 2026

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

Infrastructure Urban

01 Jun 2026

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..