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Nepal new budget: removes tax hikes on EVs, waives renewal & road tax for 5 years. Exemption of renewal and road taxes for five years if an existing petroleum vehicle switches to battery power. There will be exemption of renewal and road taxes for five years if an existing petroleum vehicle switches to battery power.
The Voluntary Vehicle Fleet Modernisation Programme, often known as the vehicle scrappage program, was launched on August 13 by Prime Minister Narendra Modi. . The Vehicle Scrappage Policy’s Highlights. The scrappage program is claimed to benefit India’s ailing automotive industry. Scrappage Policy and EV Sector.
Electric vehicles in Maharashtra will attract financial incentives ranging from Rs 10,000 to Rs 20 lakh and the housing societies will get rebates in property tax for setting up charging stations. It has said that EVs will be exempt from road tax and registration charges. Scrappage incentive. Maharashtra EV Policy 2021 .
The scrappage scheme is only a few days old here in the UK and it has already come under fire. An article in the New York Times criticised the so-called “cash for clunkers&# legislation that would give people vouchers worth as much as $4,500 to replace old cars with new ones. Leave a comment with your thoughts.
MoRTH issued a notification advising states to waive road tax on EVs, which in turn will help reduce the initial cost of EVs. Also, read related article: Vehicle scrappage policy to reduce the cost of EVs says Nitin Gadkari.
So would these tax hikes linked to the amount we pollute be justified? Is a green tax blitz justified? The 100-page report wants to double the proportion of green taxes in the current tax take from the existing level of seven per cent. Among its suggestions is a £300 tax on new cars, increasing annually to £3,300 by 2020.
According to his plans, vehicles that are aged over 10 years old and have been driven by motorists for more than 12 months will be worth £2,000 when traded in for a new car as part of the Government’s new scrappage scheme which takes much of its inspiration from a highly successful format in Germany.
In what is expected to be significant boost for the govt’s efforts to speed up scrappage of old vehicles, as many as 21 states and UTs have announced some major concessions for car buyers who choose to scrap their cars, ToI reported on April 29. When it comes to private vehicles, 12 states are providing a 25% discount on road tax.
There are no regulations barring use of vehicles more than 15 years in rural areas, which has spawned a growing market for pre-owned cars in the hinterlands, limiting the scrappage aims, according to a government study.
It has established itself as a firm leader in the green car race thanks to the success of the Toyota Prius and Japanese government ecological perks including tax breaks have helped ease the drop in sales with the Prius topping the sales charts in its home country for two successive months. Why the race is on.
Having already adjusted its road tax system to penalise the heaviest polluters and introduced congestion charges; the Government created a vehicle scrappage scheme earlier this year meant to help more motorists make green choices while boosting the automotive sector. Now it seems that its efforts have been rewarded.
Meanwhile, the likes of the Hyundai i10 have made it on to the best-sellers list for the first time ( see article ). Certainly the Government’s scrappage scheme has attracted new car buyers who only have the money to buy some of the cheaper new vehicles.
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