Central government - Incentive of Rs.1.5 Lakhs for surrendering old vehicles
Posted on: 16/Aug/2015 11:35:59 AM
Pollution generated by road vehicles has become one of the difficult challenges for the entire world to solve.
Green Tribunal has recommended manufacture of vehicles of EORO-5 Standard Quality which eliminate pollution from the vehicles.
Central Land Transport Minister, Mr. Nitin Gadkari, informed that a proposal has been submitted to the Ministry of Finance recommending an incentive payment of up to Rs. 1.5 Lakhs for the people surrendering their vehicles which are more than 10 years’ old (for full restoration or surrender).
As per this scheme, a receipt/proof will be given while surrendering the old vehicle.
This can be produced while buying a new vehicle and a concession or cash incentive of up to Rs. 50000 can be availed. For cars, the incentive will be up to Rs. 30000/-.
For trucks and other Heavy Duty Vehicle, the incentive may be up to Rs. 1 Lakh.
The minister also informed that centres for buying old vehicles are being set up near sea-ports.
