The scheme aims to support the deployment of over 38,000 ebuses during FY25-FY29 period
The government said that the scheme will support the operation of ebuses for a period of up to 12 years from the date of deployment
Besides the PSM scheme, the Cabinet also approved the much-awaited FAME-III scheme with a different name — PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme
As part of the Centre’s push for promoting electric mobility, the union cabinet has approved the ‘PM-eBus Sewa-Payment Security Mechanism (PSM) scheme’ with an outlay of INR 3,435.33 Cr for procurement and operation of ebuses by public transport authorities (PTAs).
The scheme aims to support the deployment of over 38,000 ebuses during FY25-FY29 period.