GST could ensure vehicles over 15 yrs don’t go off the roads, despite govt’s plans
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Government’s programme to keep the polluting vehicles off the road is facing an unwanted speed bump on the way.
The plan initially, was to lower the excise tax on new vehicles bought under The Voluntary Vehicle Fleet Modernization Programme (V-VMP). Government reviews the opinion of V-VMP to reward those who agree to junk their old vehicles to buy new, less polluting ones. However, Finance Minister Arun Jaitley doesn’t favor providing incentives and has asked the Road Transport Ministry to think of some other ways so people scrap of their old vehicles.
"I had recently met the
He also told that they are revoking the proposal under Jaitley’s suggestion and then it will be provided to CoS (
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"The principles remain the same. We will incentivize the scheme for the initial 2-3 years, particularly to get off roads old polluting trucks and buses, the
As per the current V-VMP scheme, vehicles bought prior to March 31, 2005, or those below BS IV emission standards, would be eligible for incentives if those were scrapped and replaced by new ones. According to government estimates, the V-VMP programme may take 28 million polluting vehicles off the road. It would enable generation of Rs 11,500 crore worth of steel scrap every year.
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