From BS-IV vehicles to registration fee, Sitharaman's big announcements to boost auto sector
New Delhi | Jagran News Desk: Finance Minister Nirmala Sitharaman on Friday addressed the nation in which she outlined the road ahead for the country’s economy and made a series of announcements.
At the press conference, Nirmala Sitharaman also announced several steps to uplift the auto-sector which has seen a decline in recent times.
In order to boost the auto sector, Sitharaman announced that the government has decided to allow its departments to replace their old vehicles.
“Ban on government departments lifted for purchase of vehicles to replace old ones,” said Sitharaman on measures to mitigate distress in the auto sector.
Sitharaman also said that the Bharat Stage IV vehicles purchased before March 2020 will remain operational for the full period of their registration. Sitharaman said she wanted to dismiss speculation that BS-IV vehicles would become illegal to drive after 2020 when BS-VI norms will kick in.
“Bharat Stage IV vehicles purchased up to March 2020 will remain operational for the entire period of registration,” she said.
The Bharat stage Emission Standards are emission norms that define the quantity of pollutants a vehicle is legally allowed to emit. The BS-VI norms are stricter than BS-IV norms.
Sitharaman on measures to ease building auto inventories said, “Government has now allowed an additional 15 per cent depreciation on vehicles acquired from now till March 2020.”
“Both Electronic Vehicles and liquid fuel-driven vehicles will continue to be registered,” said the Finance Minister.
Posted By: Aalok Sensharma