Parivartan scheme guidelines cleared to replace ageing trucks, buses in NCR
The Rs 9,585-crore PARIVARTAN scheme offers tax concessions, interest subvention and other incentives to replace ageing commercial vehicles in the National Capital Region
 "Parivartan scheme guidelines cleared to replace ageing trucks, buses in NCR")
The Ministry of Housing and Urban Affairs (MoHUA) on Thursday announced that it had approved the operational guidelines for the Programme for Accelerated Renewal and Incentivization of Vehicle Assets for Reducing Transport Air Pollution and Network Emissions (Parivartan) scheme.
The scheme is aimed at replacing older, polluting trucks and buses operating in the National Capital Region (NCR) with cleaner Bharat Stage (BS)-VI-compliant or electric vehicles.
With a total outlay of Rs 9,585 crore, including budgetary support of Rs 5,041 crore from the Central government, the scheme was approved by the Union Cabinet last month.
The Ministry of Road Transport and Highways (MoRTH) will be the implementing ministry under the scheme, which will be funded through the National Capital Region Planning Board (NCRPB).
"The scheme provides a comprehensive package of incentives, including motor vehicle tax concessions, registration fee waivers, a 5 per cent interest subvention on vehicle loans, a minimum 8 per cent OEM discount on eligible new vehicles, monthly fuel voucher support for eligible diesel and CNG replacement vehicles, and one-time financial assistance for electric replacement vehicles and Certificate of Deposit (CoD) trading," MoHUA said in a statement.
It added that the governments of Rajasthan, Haryana, Uttar Pradesh and Delhi have already issued notifications granting a motor vehicle tax concession for 10 years and a registration fee waiver on new vehicles purchased under the scheme.
On industry participation, 11 original equipment manufacturers (OEMs) — together accounting for more than 95 per cent of the commercial vehicle market share — have signed memoranda of understanding (MoUs) with MoRTH to extend the OEM discount to eligible beneficiaries under the scheme.
The scheme will be implemented through a digital platform that will interface with VAHAN, V-Scrap, DigiELV, the Public Financial Management System (PFMS), participating lenders and fuel voucher systems to ensure transparent, efficient and end-to-end digital delivery of benefits.