Budget 2026: PM E-Drive Gets ₹1,500 Crore, Focus on E-Buses

• Union Budget 2026–27 allocates ₹1,500 crore to the PM E-Drive scheme, replacing FAME India as the main EV incentive program.
• PM E-Drive, with a total outlay of ₹10,900 crore, provides purchase incentives and funding for charging and testing infrastructure.
• The scheme prioritizes electric buses with ₹4,391 crore, followed by two- and three-wheelers, trucks, ambulances, and public charging infrastructure.
• As of December 2025, over 21.24 lakh EVs received incentives, with targets met for L5 electric three-wheelers.
• PM E-Drive is extended until March 2028, but purchase incentives for electric two- and three-wheelers end March 31, 2026.

Why It Matters: Budget 2026 boosts electric mobility with ₹1,500 crore for PM E-Drive, emphasizing e-buses and infrastructure.