PARIVARTAN Scheme

PARIVARTAN Scheme Latest News

Recently, the Ministry of Housing & Urban Affairs (MoHUA) has approved the Guidelines for the PARIVARTAN Scheme. 

About PARIVARTAN Scheme

• PARIVARTAN (Programme for Accelerated Renewal and Incentivization of Vehicle Assets for Reducing Transport Air Pollution and Network Emissions) 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 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: PIB

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