If you are also thinking of buying a new electric vehicle, then you get a subsidy under the government’s PM E-Drive scheme. However, this subsidy usually takes up to 40 days to reach your account. But now, an important step has been taken so that you can get this subsidy within just 5 days! For this, you have to do an important thing, which will speed up the process of your subsidy. This is a big relief news for those EV buyers who are waiting for their subsidy soon.
Subsidy will be available instantly
The Ministry of Heavy Industries of the Government of India, which runs the PM E-Drive Subsidy Scheme, has made a revolutionary plan in this regard. Under this, electric vehicle buyers will have to get Aadhaar e-KYC done on the PM E-Drive app or portal. For this, they have to do face authentication, so that their subsidy voucher will be generated immediately.
After this process, while earlier it used to take 40 days for the subsidy to be credited, now the ministry is working on speeding up this process to just 5 days. The ministry wants the money from the PM E-Drive scheme to reach the people as soon as possible. So, if you also want to get an EV subsidy soon, then get your Aadhaar e-KYC done immediately. This is a simple process that will make your subsidy path easier.
The government made a big decision
The government has taken this important decision given the large number of pending claims under the PM E-Drive scheme. Especially the number of subsidy claims related to electric two-wheelers is very high. According to the news of Business Standard, 1.26 lakh claims are currently in process for the financial year 2024-25. Of these, 1.09 lakh claims are only for electric two-wheelers.
While the ministry has received a total of 8.93 lakh claims. The Aadhaar e-KYC process has been made mandatory to reduce this huge backlog and provide quick benefits to the beneficiaries.
The scheme may be closed before the funds run out
However, a few days ago, a media report regarding the PM E-Drive scheme said that the scheme may be closed before its original deadline of March 31, 2026. According to news from ET, the PM E-Drive scheme is a scheme with limited funds. With the increase in the purchase of EVs, the funds of this scheme may be fully disbursed ahead of time. Under the PM E-Drive scheme, the government has budgeted ₹ 10,900 crore.
This includes subsidy to be given mainly for two-wheeler and three-wheeler electric vehicles (including e-rickshaws and e-carts). However, due to a lack of funds, this subsidy scheme is likely to be closed by July-August 2025 for the three-wheeler electric vehicle category and by January 2026 for the two-wheeler category. So, if you want to take advantage of this scheme, hurry up. This can be a golden opportunity for you to buy an electric vehicle.