AP awaits Rs 1.50 billion central aid to scrap old vehicles
ECONOMY & POLICY

AP awaits Rs 1.50 billion central aid to scrap old vehicles

The government of Andhra Pradesh is eagerly anticipating central financial help of almost Rs 1.50 billion to proceed with the state's destruction of outdated and polluting automobiles.

When presenting the Union Budget 2023-24 in the Lok Sabha in New Delhi, Union Finance Minister Nirmala Sitharaman stated that replacing obsolete polluting automobiles is a vital part of greening the country's economy. She promised states financial assistance for replacing obsolete automobiles. In this aspect, AP has great hopes for financial assistance from the centre.

Earlier, the union road transport and highways ministry had also come up with a national automobile scrappage policy, with the provision that states and UTs will be provided up to 25 per cent rebate on road tax for vehicles purchased after scrapping the old vehicles. There had also been a proposal to provide road tax concession of up to 25 per cent for personal and non-transport vehicles and up to 15 per cent for commercial and transport vehicles. The concession will be available for up to 15 years for non-transport and eight years for transport vehicles.

The AP transport authorities say that decommissioning outdated vehicles is entirely voluntary. They stated that they have yet to determine the number of old vehicles in the state that is suitable for scrapping based on their age from the date of their initial registration with the transport department.

However, the relocation will create jobs. Furthermore, if outdated automobiles are scrapped, the state would have less traffic pollution.

Also Read
Sitharaman urges to establish guidelines for renewable energy
India to receive largest green ammonia plant from Greenko Group

The government of Andhra Pradesh is eagerly anticipating central financial help of almost Rs 1.50 billion to proceed with the state's destruction of outdated and polluting automobiles. When presenting the Union Budget 2023-24 in the Lok Sabha in New Delhi, Union Finance Minister Nirmala Sitharaman stated that replacing obsolete polluting automobiles is a vital part of greening the country's economy. She promised states financial assistance for replacing obsolete automobiles. In this aspect, AP has great hopes for financial assistance from the centre. Earlier, the union road transport and highways ministry had also come up with a national automobile scrappage policy, with the provision that states and UTs will be provided up to 25 per cent rebate on road tax for vehicles purchased after scrapping the old vehicles. There had also been a proposal to provide road tax concession of up to 25 per cent for personal and non-transport vehicles and up to 15 per cent for commercial and transport vehicles. The concession will be available for up to 15 years for non-transport and eight years for transport vehicles. The AP transport authorities say that decommissioning outdated vehicles is entirely voluntary. They stated that they have yet to determine the number of old vehicles in the state that is suitable for scrapping based on their age from the date of their initial registration with the transport department. However, the relocation will create jobs. Furthermore, if outdated automobiles are scrapped, the state would have less traffic pollution. Also Read Sitharaman urges to establish guidelines for renewable energy India to receive largest green ammonia plant from Greenko Group

Next Story
Infrastructure Urban

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Next Story
Infrastructure Energy

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

Next Story
Real Estate

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement