Electric Mobility Promotion Scheme (EMPS), 2024
Context:
The Ministry of Heavy Industries has introduced the Electric Mobility Promotion Scheme (EMPS), 2024, aimed at accelerating the adoption of green mobility and boosting India’s electric vehicle (EV) manufacturing ecosystem.
Relevance:
GS-02 (Government policies and interventions)
Key Highlights:
- Scheme Duration and Financial Outlay: The EMPS 2024 is a short-term initiative spanning four months, from April 01, 2024, to July 31, 2024, with a financial outlay of Rs. 500 crore.
- Limited Funds and Vehicle Numbers: The scheme operates with restricted funds and a limited number of vehicles eligible for subsidies. Demand incentives are available for electric two-wheelers (e-2W) and electric three-wheelers (e-3W) sold and registered within the scheme’s duration or until funds are exhausted.
- Eligibility Criteria: To qualify for the incentives, EVs must be manufactured and registered within the validity period of the EMPS 2024 certificate.
- Demand Incentive Cap: The total payout for demand incentives under the scheme is capped at Rs. 493.55 crore. The scheme or its sub-components will close if the allocated funds are depleted before the end date, and no further claims will be entertained.
- First-Come, First-Served Basis: Incentives will be granted on a first-come, first-served basis, emphasizing the urgency for stakeholders to act promptly.
- Scheme Termination: The EMPS 2024 will conclude on July 31, 2024, or earlier if the allocated funds or the maximum number of vehicles per category are reached, ensuring a competitive and timely utilization of resources.
Significance:
- Enhances Green Mobility: Promotes the adoption of electric vehicles, reducing carbon emissions and supporting environmental sustainability.
- Stimulates Economic Growth: Encourages investment and job creation in the EV manufacturing sector, boosting the economy.
- Reduces Oil Dependency: Decreases reliance on imported fossil fuels, enhancing energy security.
- Improves Air Quality: Reduces vehicular emissions, leading to better air quality and public health.
- Accelerates EV Adoption: Makes electric vehicles more affordable through incentives, fostering infrastructure development and consumer transition to EVs.
Conclusion:
This initiative highlights the government’s commitment to promoting sustainable and green mobility solutions, encouraging the rapid adoption of electric vehicles in India.
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