Government Offers More Incentives for Scrapping BS-II, Older Vehicles
ECONOMY & POLICY

Government Offers More Incentives for Scrapping BS-II, Older Vehicles

In a bid to phase out high-polluting vehicles, the Ministry of Road Transport and Highways (MoRTH) has proposed doubling the rebate on Motor Vehicle tax to 50% for individuals purchasing new vehicles after scrapping BS-II or earlier emission standard vehicles. Currently, the rebate stands at 25% for personal vehicles and 15% for commercial vehicles. 

According to the draft notification issued on January 24, the enhanced 50% rebate will apply to all vehicles, both personal and commercial, that comply with BS-I standards or were manufactured before the introduction of Bharat Stage (BS) norms. It also extends to BS-II medium and heavy vehicles used for private or transport purposes. 

The BS-I emission norms were introduced in 2000, followed by BS-II in 2002. To address pollution concerns, the government launched the Voluntary Vehicle Modernisation Program (Vehicle Scrapping Policy), aiming to establish an ecosystem for retiring unfit vehicles through Registered Vehicle Scrapping Facilities (RVSFs) and Automated Testing Stations (ATSs). 

As of now, over 60 RVSFs are operational across 17 states and Union Territories, with more than 75 ATSs in 12 states. Additional facilities are under development to expand the program’s reach and efficiency in reducing vehicular emissions nationwide. 

(ET)    

In a bid to phase out high-polluting vehicles, the Ministry of Road Transport and Highways (MoRTH) has proposed doubling the rebate on Motor Vehicle tax to 50% for individuals purchasing new vehicles after scrapping BS-II or earlier emission standard vehicles. Currently, the rebate stands at 25% for personal vehicles and 15% for commercial vehicles. According to the draft notification issued on January 24, the enhanced 50% rebate will apply to all vehicles, both personal and commercial, that comply with BS-I standards or were manufactured before the introduction of Bharat Stage (BS) norms. It also extends to BS-II medium and heavy vehicles used for private or transport purposes. The BS-I emission norms were introduced in 2000, followed by BS-II in 2002. To address pollution concerns, the government launched the Voluntary Vehicle Modernisation Program (Vehicle Scrapping Policy), aiming to establish an ecosystem for retiring unfit vehicles through Registered Vehicle Scrapping Facilities (RVSFs) and Automated Testing Stations (ATSs). As of now, over 60 RVSFs are operational across 17 states and Union Territories, with more than 75 ATSs in 12 states. Additional facilities are under development to expand the program’s reach and efficiency in reducing vehicular emissions nationwide. (ET)    

Next Story
Real Estate

Indian REITs Offer 6-7.5 per cent Yield, Surpassing Many Global Markets

Indian Real Estate Investment Trusts (REITs) are delivering average yields of 6–7.5 per cent for unitholders, outperforming many mature markets, including the US, according to a report by Credai and Anarock.Credai, the apex body of Indian real estate developers, and property consultant Anarock released the report Indian REITs – A Gateway to Institutional Real Estate at an event in India.Currently, India has five listed REITs – Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, Nexus Select Trust, and Knowledge Realty Trust. Nexus Select Trust pr..

Next Story
Infrastructure Energy

Insolation Energy Wins 226 MW Solar Projects Under PM-KUSUM

Insolation Energy on Monday announced securing multiple solar projects totalling 226.45 MW, with an investment of Rs 7.5 billion, under the PM-KUSUM scheme. The orders were awarded to its wholly-owned subsidiary, Insolation Green Energy Pvt Ltd, by Jaipur Vidyut Vitran Nigam Limited for 20 sites and Ajmer Vidyut Vitran Nigam Limited for 115 sites, the company informed the exchanges.“The combined SPV solar power plants will total 226.45 MW under PM-KUSUM Component A, with the final levelised tariff at Rs 3.04 per unit for 16 sites, Rs 2.82 per unit for 5 sites, Rs 2.75 per unit for 53 sites, ..

Next Story
Infrastructure Energy

Numaligarh Refinery Awards EPC Contract for Rooftop Solar Projects

State-owned Numaligarh Refinery Ltd. (NRL) has awarded a Letter of Award to Solarium Green Energy Ltd. for the rate contract covering the Engineering, Procurement, and Construction (EPC) of grid-connected rooftop solar PV projects at various locations. The projects fall within the categories of 51–200 kW and 201–1000 kW. Notable projects include a 140 kW rooftop solar plant at NRL Assam, a 760 kW plant at NRL Assam, and a 280 kW plant at NRL West Bengal.The supply order covers ex-manufacturing works and the dispatch price for plant and equipment for the 140 kW, 760 kW, and 280 kW rooftop s..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?