HomeAuto NewsBudget 2022: Govt may spend Rs 2908 crore under FAME scheme in FY23

Budget 2022: Govt may spend Rs 2908 crore under FAME scheme in FY23

Budget 2022: The government is considering spending Rs 2942 crore on development of automotive industry in FY23. The Union Budget could announce further support measures for electric vehicles, vehicle testing, research and development and the sector in general

Profile image

By CNBCTV18.com February 1, 2022, 9:33:05 AM IST (Updated)

Budget 2022: Govt may spend Rs 2908 crore under FAME scheme in FY23
The government is considering spending Rs 2942 crore on development of automotive industry in FY23, including Rs 2908 crore under the Faster Adoption and Manufacturing of Hybrid and Electric vehicle (FAME) scheme, sources told CNBC-TV18.


The revised estimate of spending on the automotive sector for FY22 stands at Rs 800 crore .

The Union Budget could announce further support measures for electric vehicles, vehicle testing, research and development and the sector in general, sources added.

Finance Minister Nirmala Sitharaman will present the Union Budget in Parliament at 11 am.

Like last year, Union Budget 2022-23 will also be presented by the Finance Minister in "paperless form". The ministry said that the entire Budget document will be released on a mobile application for the public after it is presented in Parliament

For all the latest updates on Union Budget 2022, follow our LIVE blog here

For full coverage of Union Budget 2022, click here
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!