Government boosts funding to Rs 778 Crore, extends electric mobility scheme

EMPS scheme extended: The Indian government has extended the Electric Mobility Promotion Scheme (EMPS) by two months, and now it will continue running until September 30, 2024. This extension comes with a significant increase in the scheme’s financial expenditure, which has been raised to Rs 778 crore from the original Rs 500 crore.

This scheme was introduced by the Ministry of Heavy Industries in March 2024. The EMPS aims to accelerate the adoption of electric vehicles (EVs) across India at a faster pace. Initially, it was set to cover the period from April 1, 2024, to July 31, 2024, but the scheme’s extension has reflected the government’s ongoing commitment to promoting green transportation and sustainable mobility solutions.

According to an official statement from the ministry, the scheme’s revised outlay of Rs 778 crore will support various categories of electric vehicles. This includes electric two-wheelers and three-wheelers, such as registered e-rickshaws, e-carts, and L5 category vehicles. The scheme also focuses on enhancing affordable and environmentally friendly public transport options, particularly for commercial and private use.

The extension of this scheme will continue to support the growth of India’s EV manufacturing sector, supporting the government’s green initiatives and commitment to sustainable transportation. By extending the scheme deadline and increasing the funding, the government aims to encourage both consumer adoption and industry development in the electric mobility sector.

The EMPS-2024 is expected to further drive the growth of electric mobility and strengthen the EV manufacturing ecosystem in the country. The additional funds and extended timeline are designed to address any emerging challenges and maximise the benefits of the scheme for various stakeholders involved in the electric mobility industry.

This strategic move by the government highlights its dedication to advancing electric mobility as a crucial component of India’s wider environmental and energy goals. The extension of the EMPS-2024 and increased funding are anticipated to provide significant acceleration for the country's transition to cleaner and more sustainable transportation solutions.

(with PTI inputs)