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News: MoHUA approved Guidelines for the PARIVARTAN Scheme to replace older polluting trucks and buses in the National Capital Region.
About PARIVARTAN Scheme
- PARIVARTAN stands for ‘Programme for Accelerated Renewal and Incentivization of Vehicle Assets for Reducing Transport Air Pollution and Network Emissions’.
- Implemented by: It is implemented by the Ministry of Road Transport and Highways (MoRTH).
- Funded by: It is funded by the National Capital Region Planning Board.
- Aim: This scheme aims to replace older polluting trucks and buses with cleaner Bharat Stage-VI compliant or electric vehicles.
- Key Features:
- Total Outlay: The Scheme has a total outlay of ₹9,585 crore.
- Financial Incentives: The Scheme provides 5% interest subvention on vehicle loans, a minimum 8% OEM discount, tax concessions, registration fee waivers, fuel vouchers, financial assistance for electric vehicles, and Certificate of Deposit (CoD) trading support.
- State Support: Rajasthan, Haryana, Uttar Pradesh, and NCT of Delhi granting ten-year Motor Vehicle Tax concessions and registration fee waivers on eligible new vehicles.
- Digital Platform: The Scheme will operate through an integrated platform linked with VAHAN, V-Scrap, DigiELV, the Public Financial Management System (PFMS) , participating lenders, and fuel voucher systems for transparent benefit delivery.
