What’s in the news?

• The Union Cabinet 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. 

https://pib.gov.in/PressReleasePage.aspx?PRID=2053890