Government will consider scrappage policy, announces additional 15% depreciation on all vehicles
The finance minister has announced measure to boost economy, while also announced significant measures to support auto sector witnessing large decline in sales across the segments.The finance minister has announced that the BS IV vehicles purchased till 31 March 2020 will remain operational for entire period of registration.
The finance minister has announced additional 15% depreciation on all vehicles, to increase it to 30% acquired during the period from 23 August 2019 till 31 March 2020
The government has deferred revision of one time registration fees till June 2020.
Both electric vehicles (EVs) and internal combustion vehicles (ICVs) will continue to be registered. Government's focus will be on setting up of infrastructure for development of ancillaries /components including batteries for export.
In order to boost demand, the Government shall lift the ban on purchase of new vehicles for replacing all old vehicles by Departments.
The Government will consider various measures including scrappage policy.
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