25-May-2026
Economy News
 
India to strengthen EV shield against oil imports with fresh subsidies: Report
25-May-2026

The government is planning to double down on subsidies for electric two-wheelers as a central scheme to support clean mobility, the Mint reported on Monday, citing three people aware of the matter. As per the report, the heavy industries ministry is planning to seek additional funds to subsidise electric two-wheelers under the flagship PM E-Drive scheme, at a time when India is looking to reduce its overwhelming reliance on oil imports. The PM E-Drive Scheme had already allocated Rs 10,900 crore to subsidise electric two-wheelers till the end of fiscal year 2026, which was further extended till the end of July, following demands from the auto industry.

News Source:- https://economictimes.indiatimes.com/news/economy/policy/govt-plans-to-double-down-on-electric-two-wheeler-subsidies-report/articleshow/131303708.cms