The Union Budget 2026-27 allocates ₹1,500 crore to the PM E-Drive scheme. While lower than last year’s ₹4,000 crore, it exceeds the revised ₹1,300 crore estimate. The PM E-Drive scheme, succeeding FAME India in October 2024 with a ₹10,900 crore budget, supported over 2.1 million EVs by December 2025. Purchase incentives for two- and three-wheelers end by March 2026.
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Union Budget 2026 Allocates ₹1,500 Crore for EV Scheme, Expands Battery and Semiconductor Push
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