When the Renewable Energy Certificate regime came into effect last year, it was generally believed that the proceeds from selling the certificates to those obligated to buy green power would form a meaningful stream of income to wind, biomass and solar energy producers.

To boost the sagging sales of electric vehicles, the government on Wednesday approved the extension of the Ministry of New and Renewable Energy (MNRE)’s subsidy scheme to incentivise sales of electric cars and two-wheelers in the country.

“Sales of electric vehicles...