PARIVARTAN Scheme

PARIVARTAN Scheme Latest News

Recently, the government has said that around one thousand five hundred beneficiaries have been registered on the PARIVARTAN scheme after its launch.

About PARIVARTAN Scheme

• PARIVARTAN (Programme for Accelerated Renewal and Incentivization of Vehicle Assets for Reducing Transport Air Pollution and Network Emissions) scheme was launched by the central government.
• It is aimed at facilitating the replacement of older, highly polluting trucks and buses operating in the National Capital Region (NCR) with cleaner Bharat Stage (BS)-VI compliant or electric vehicles.
• Implementing Ministry: It is implemented by the Ministry of Road Transport and Highways (MoRTH).
• Funding: It is funded by the National Capital Region Planning Board (NCRPB)
• States Covered: Rajasthan, Haryana, Uttar Pradesh and NCT of Delhi issued notifications granting Motor Vehicle Tax
• Incentives provided under the Scheme
  • Motor Vehicle Tax concessions, registration fee waivers,
  • 5% interest subvention on vehicle loans,
  • A minimum 8% OEM discount on eligible new vehicles,
  • Monthly fuel voucher support for eligible diesel and CNG replacement vehicles, and
  • One-time financial assistance for electric replacement vehicles and Certificate of Deposit (CoD) trading.
• It will be implemented through an integrated digital platform that will seamlessly interface with VAHAN, V-Scrap, DigiELV, the Public Financial Management System (PFMS), participating lenders.

Source: News On Air

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