As many as 1,450 old truck and bus owners have so far registered under the scheme since its launch on July 14, road transport and highways secretary V Umashankar said on Friday.
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Addressing a press conference, Umashankar said the ministry expects more than 25,000 old commercial truck and bus owners to register under the Parivartan scheme by October this year.
There are over 2 lakh trucks and buses conforming to Bharat Stage (BS)-IV or prior emission norms, registered in the National Capital Territory of Delhi, according to the ministry.
The scheme was approved by the Union Cabinet on June 3 with a total outlay of Rs 9,585 crore, including Rs 5,041 crore as Central government support.
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The beneficiaries will receive multiple incentives, including motor vehicle tax concessions, registration fee waivers, five per cent interest subvention on vehicle loans, a minimum eight per cent discount from original equipment manufacturers (OEMs), 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.
The governments of Rajasthan, Haryana, Uttar Pradesh and Delhi have notified a 10-year motor vehicle tax concession and registration fee waiver for eligible new vehicles under the scheme.
As many as 15 OEMs, accounting for over 95 per cent of the commercial vehicle market, have signed agreements with MoRTH to provide the mandated discounts for replacement of old commercial vehicles.
For buyers opting for BS-VI diesel or CNG vehicles, the scheme provides monthly fuel vouchers ranging from Rs 1,200 to Rs 4,800 for five years, depending on the vehicle category.
The Parivartan (Programme for Accelerated Renewal and Incentivization of Vehicle Assets for Reducing Transport Air Pollution and Network Emissions) scheme aims to reduce vehicular pollution in Delhi-NCR.
The scheme will be implemented through an integrated digital platform linked with VAHAN, V-Scrap, DigiELV, PFMS, participating lenders and fuel voucher systems to ensure transparent and seamless delivery of benefits.
