PARIVARTAN Scheme: In News
The government has said that around one thousand five hundred beneficiaries have been registered on the PARIVARTAN scheme after its launch.
- 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.
- It is implemented by the Ministry of Road Transport and Highways (MoRTH).
- 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
- 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.
