PARIVARTAN scheme picks up speed with 1,300 beneficiaries, 15 auto manufacturers on board

New Delhi, Aug 28 (IANS) The Centre’s PARIVARTAN Scheme to replace older BS-IV trucks and buses with less polluting new BS-VI commercial vehicles has gained momentum with over 1,300 applicants registered for benefits after the launch of the scheme for Delhi-NCR on July 14, according to an official statement issued on Friday.

As many as 42 banks and non-banking financial companies (NBFCs) have been onboarded to the scheme to provide interest subvention on vehicle loans. On the industry side, Memoranda of Understanding (MoUs) have been signed with 15 auto manufacturers to extend the discount to eligible beneficiaries. The scheme has a total financial outlay of Rs 9,585 crore, including Rs 5,041 crore in budgetary support from the Central government.

Eligible beneficiaries purchasing new BS-VI or stricter norm compliant diesel or CNG vehicles, or electric vehicles, are entitled to a package of incentives comprising 5 per cent interest savings on eligible vehicle loans for 5 years; 100 per cent Road Tax Waiver for a period of 10 years and a full waiver on registration fees, and at least 8 per cent discount on ex-showroom price from participating Original Equipment Manufacturers (OEMs).

Besides, monthly fuel vouchers ranging from Rs 1,200 to Rs 4,800 are being given, depending on vehicle category, for a period of five years for buyers of BS-VI diesel or CNG vehicles, or a one-time incentive ranging from Rs 64,000 to Rs 2.56 lakh for buyers of electric vehicles.

The PARIVARTAN (Programme for Accelerated Renewal and Incentivisation of Vehicle Assets for Reducing Transport Air Pollution and Network Emissions) Scheme was launched to replace over 2 lakh trucks and buses conforming to Bharat Stage (BS)-IV or prior emission norms, registered in the National Capital Territory of Delhi and the NCR districts of Haryana, Rajasthan, and Uttar Pradesh, with BS-VI or stricter norm compliant or electric vehicles. The scheme is being funded through the National Capital Region Planning Board (NCRPB) under the Ministry of Housing and Urban Affairs (MoHUA) and is being implemented by the Ministry of Road Transport and Highways (MoRTH).

A multi-pronged awareness campaign is being undertaken to reach eligible vehicle owners across Delhi-NCR regarding the benefits and registration process under the scheme. The campaign spans print, electronic and digital media, and outdoor publicity at fuel stations, transport nagars, toll plazas and Regional Transport Offices (RTOs) across Delhi-NCR, with the aim of driving wider beneficiary registration and participation under the scheme, the statement added.

–IANS

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