Cabinet approves PM-eBus Sewa-Payment Security Mechanism scheme

Published By : Admin | September 11, 2024 | 20:14 IST
Roll out of over 38,000 e-buses with outlay of over Rs.3,435 crore
Made in India e-buses Sewa Payment Security Mechanism – a major step towards accomplishing PM’s vision of Atmanirbhar Bharat
Will be a milestone in reducing pollution and protect environment

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the “PM-eBus Sewa-Payment Security Mechanism (PSM) scheme” for procurement and operation of e-buses by Public Transport Authorities (PTAs) with an outlay of Rs. 3,435.33 crore.

This scheme will support deployment of more than 38,000 electric buses (e-Buses) from FY 2024-25 to FY 2028-29. The scheme will support the operation of e-buses for a period of up to 12 years from the date of deployment.

At present, the majority of buses operated by Public Transport Authorities (PTAs) run on diesel/CNG, causing adverse environmental impact. On the other hand, e-buses are environment friendly and have lower operational cost. However, it was anticipated that Public Transport Authorities (PTAs) would find it challenging to procure and operate e-buses because of their high upfront cost and lower realization of revenue from operations.

To address the high capital cost of e-buses, Public Transport Authorities (PTAs) induct these buses through Public Private Partnership on Gross Cost Contract (GCC) model. The PTAs are not required to pay the upfront cost of the bus under the GCC model, instead OEMs/operators procure and operate e-buses for PTAs with monthly payments. However, OEMs/operators are hesitant to engage in this model due to concerns about potential payment defaults.

The scheme addresses this concern by ensuring timely payments to OEMs/operators through a dedicated fund. In case of default of payments by PTAs, CESL, the implementing agency, shall make necessary payments from the scheme funds which will be later recouped by the PTAs/State/UTs.

This initiative seeks to facilitate adoption of e-buses by encouraging private sector participation. The scheme will also lead to significant reductions in greenhouse gas emissions and also reduce the consumption of fossil fuel. The scheme will provide benefits to all Public Transport Authorities (PTAs) present in State/UTs who opt for the scheme.

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Members of the Bhikku Sangh meet Prime Minister and express gratitude on granting of classical language status to Pali and Marathi
October 05, 2024

Members of the Bhikku Sangh, Mumbai met the Prime Minister Shri Narendra Modi today and expressed joy on the Cabinet’s decision to confer the status of Classical Language on Pali and Marathi.

In a post on X, he wrote:

“Members of the Bhikkhu Sangh, Mumbai met me and expressed joy on the Cabinet’s decision to confer the status of Classical Language on Pali and Marathi. They recalled the strong connection of Pali with Buddhism and expressed confidence that more youngsters will learn about Pali in the coming times.”

“मुंबईतील भिक्खू संघाच्या सदस्यांनी माझी भेट घेतली आणि पाली तसेच मराठी भाषांना अभिजात भाषेचा दर्जा देण्याच्या मंत्रिमंडळाच्या निर्णयाबद्दल आनंद व्यक्त केला. पाली भाषेच्या बौद्ध धर्मासोबतच्या घट्ट नात्याचे त्यांनी स्मरण करून दिले आणि येत्या काळात अधिकाधिक तरुण पाली भाषेविषयी ज्ञान मिळवतील असा विश्वास त्यांनी व्यक्त केला. “