Cabinet Approves Rs 3,435 Crore Scheme for 38,000 Electric Buses

Union Minister for Heavy Industries and Steel H. D. Kumaraswamy has said that the recently approved Prime Minister eBus Sewa-Payment Security Mechanism (PSM) scheme will support the deployment of more than 38,000 electric buses (e-Buses) from the financial year 2024-25 to the financial year 2028-29. 

Briefing the media, Mr Kumaraswamy said that the Union Cabinet chaired by Prime Minister Narendra Modi has approved the scheme for procurement and operation of e-buses by



Public Transport Authorities (PTAs) with an outlay of Rs 3,435.33 crore.

He said that the scheme will support the operation of e-buses for a period of up to 12 years from the date of deployment. He further highlighted that at present, the majority of buses operated by PTAs run on diesel or CNG, causing adverse environmental impact. On the other hand, e-buses are environmentally friendly and have lower operational costs.