4 days ago
PARIVARTAN Scheme Gains Momentum With 1,300 Applicants, 15 Automakers
The PARIVARTAN Scheme helps people replace older trucks and buses with cleaner vehicles.
It focuses on vehicles in Delhi and nearby parts of Haryana, Rajasthan, and Uttar Pradesh.
More than 1,300 people have applied since the scheme began on July 14.
Buyers can get help with loan interest, road tax, registration fees, and vehicle prices.
People buying diesel or CNG vehicles can also receive monthly fuel vouchers.
People buying electric vehicles can receive a one-time payment instead.
Banks, finance companies, and 15 vehicle makers are taking part.
The government hopes this will reduce pollution from transport.
More than 1,300 applicants have registered for PARIVARTAN benefits since its July 14 launch in Delhi-NCR.
The scheme has onboarded 42 banks and NBFCs to provide interest subvention on vehicle loans.
Fifteen auto manufacturers have signed MoUs to offer discounts to eligible buyers.
Eligible purchases receive benefits including 5% loan-interest savings, road-tax and registration-fee waivers, and manufacturer discounts.
The ₹9,585-crore scheme aims to replace more than 2 lakh older commercial vehicles with BS-VI, stricter-norm, or electric vehicles.
- Who
- The Centre, the National Capital Region Planning Board, the Ministry of Housing and Urban Affairs, and the Ministry of Road Transport and Highways are backing and implementing the scheme for eligible commercial-vehicle owners.
- What
- The PARIVARTAN Scheme provides incentives to replace older BS-IV or earlier trucks and buses with BS-VI, stricter-norm, or electric vehicles.
- Where
- Delhi and the National Capital Region districts of Haryana, Rajasthan, and Uttar Pradesh.
- When
- The scheme was launched on July 14; an official update was issued on Friday.
- Why
- To replace older, more polluting commercial vehicles and reduce transport-related air pollution and network emissions.
Key facts
- Registered applicants
- More than 1,300
- Participating auto manufacturers
- 15 have signed memoranda of understanding
- Participating lenders
- 42 banks and non-banking financial companies
- Total financial outlay
- ₹9,585 crore
- Central budgetary support
- ₹5,041 crore
- Targeted vehicle replacement
- More than 2 lakh BS-IV or earlier trucks and buses
- Loan-interest benefit
- 5% interest savings on eligible vehicle loans for five years
- Other buyer benefits
- A 10-year road-tax waiver, full registration-fee waiver, and at least 8% off participating manufacturers’ ex-showroom prices
Sources
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