Prelims: Current events of national and international scheme | Government policies and interventions
Why in News?
The Ministry of Housing and Urban Affairs (MoHUA) has officially approved the guidelines for the PARIVARTAN Scheme.
PARIVARTAN- Programme for Accelerated Renewal and Incentivisation of Vehicle Assets for Reducing Transport Air Pollution and Network Emissions.
Aim- To combat air pollution in the Delhi-National Capital Region (NCR) by replacing old, highly polluting commercial buses and trucks with cleaner electric or Bharat Stage (BS)-VI-compliant vehicles.
Funding - The National Capital Region Planning Board (NCRPB) will provide the funding.
Implementation- The Ministry of Road Transport and Highways (MoRTH) is responsible for implementing the scheme.
It will utilize an integrated digital platform that connects with systems like VAHAN, V-Scrap, DigiELV, and the Public Financial Management System (PFMS) for transparent delivery of benefits.
Incentives for Buyers - The program offers a comprehensive package to encourage vehicle replacement, including
Motor Vehicle Tax concessions and registration fee waivers.
A 5% interest subvention on vehicle loans.
A minimum 8% discount from Original Equipment Manufacturers (OEMs) on eligible new vehicles.
Monthly fuel voucher support for diesel/CNG replacements.
One-time financial assistance for electric vehicle replacements and Certificate of Deposit (CoD) trading.
Industry and State Collaboration
State Level – Delhi, Haryana, Rajasthan, and Uttar Pradesh have already issued notifications granting a 10-year motor vehicle tax concession and registration fee waiver for vehicles purchased under PARIVARTAN.
Industry Level - 11 OEMs, representing over 95% of the commercial vehicle market, have signed Memoranda of Understanding (MoUs) with MoRTH to provide the required discounts to eligible beneficiaries.
