Road tax reductions will be the rule under the car scrappage policy: Nitin Gadkari

Nitin Gadkari, the Union Minister for Road Transport and Highways, stated on Tuesday that the projected reduction in road tax under the vehicle scrappage policy will be a regulation, not an advice to states. The minister told reporters that the Centre has the authority to decide on this concession.“Under the concurrent list, we are authorised to decide on the concept of taxation,” Gadkari told reporters.

The policy offers a considerable reduction in road tax of up to 25% for personal automobiles and up to 15% for commercial vehicles.

According to the programme, any vehicle scrapped will earn a certificate that may be used to obtain further benefits on new vehicles. At the Investors’ Summit in Gujarat last week, Prime Minister Narendra Modi introduced the Voluntary Vehicle-Fleet Modernisation Program (VVMP).

The programme is estimated to bring in Rs 10,000 crore in investments to build 450-500 automated testing stations (ATS) and 60-70 registered vehicle scrapping facilities (RVSF) across the country.

Latest articles

Paytm and HDFC Bank have teamed up to explore payment solutions for new online businesses

Paytm, the IPO-bound digital payments company, and HDFC Bank, India's largest private sector bank, announced a strategic partnership to develop comprehensive solutions...

For the first time in three months, Bitcoin has surpassed $50,000

On Monday, Bitcoin surpassed $50,000 for the first time in three months, as investors flocked back into the cryptocurrency on a bargain-hunting...

50 Government schools transformed in Odisha, 1000 underway

Under the 5-T initiative, Odisha Chief Minister Naveen Patnaik has changed 50 government high schools in the Hinjilicut and Sheragada Blocks in...

WhatsApp’s Desktop App Has Been Released To The Public Beta Program

WhatsApp, like most other apps, is subjected to beta testing. This is crucial because they need to ensure that the software works...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here