Union Cabinet Approves Major Electric Vehicle Initiatives: PM E-DRIVE and PM-eBus Sewa Schemes

The Union Cabinet has approved two significant schemes with a budget of Rs 14,335 crore to promote electric vehicles, including buses, ambulances, and trucks. The PM E-DRIVE Scheme focuses on reducing pollution while PM-eBus Sewa ensures efficient procurement and operation of e-buses. Both initiatives aim to foster sustainable growth in the EV sector.

The Union Cabinet has given the green light to two pivotal schemes worth Rs 14,335 crore to advance the adoption of electric vehicles in India. The approved schemes include the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme with an outlay of Rs 10,900 crore and the PM-eBus Sewa-Payment Security Mechanism (PSM) scheme with a budget of Rs 3,435 crore.

Information and Broadcasting Minister Ashwini Vaishnaw highlighted that the PM E-DRIVE Scheme is designed to mitigate pollution significantly. The initiative allocates Rs 3,679 crore in subsidies for a diverse range of electric vehicles, including two-wheelers, three-wheelers, ambulances, and trucks. Further, Rs 500 crore is earmarked specifically for e-ambulances, ensuring they meet new performance and safety standards set in collaboration with relevant ministries.

The PM-eBus Sewa Scheme, with a financial outlay of Rs 3,435 crore, aims to support the induction and operation of 38,000 e-buses until FY 2028-29. This scheme addresses potential payment issues faced by bus operators through a dedicated fund, ensuring timely payments and promoting a sustainable public transport system. The introduction of these schemes underscores the government's commitment to boosting the electric vehicle sector and paving the way for sustainable growth.

(With inputs from agencies.)