According to a statement from the Office of the Transport Minister, Government of NCT of Delhi, a proposal in this regard has been sent to the Lieutenant Governor for his approval.
Commenting on this initiative, Transport Minister Kailash Gahlot said, "This policy aims to encourage the scrapping of old, polluting vehicles and promote the use of newer, cleaner vehicles. By offering tax concessions, we hope to make it easier for vehicle owners to transition to more environmentally friendly options."
"For non-transport vehicles, the concession includes a 20% reduction in the Motor Vehicles Tax payable on the registration of new petrol, CNG, or LPG vehicles, and a 15% reduction for new diesel vehicles. For transport vehicles, the concession includes a 15% reduction in the Motor Vehicles Tax payable on the registration of new petrol, CNG, or LPG vehicles, and a 10% reduction for new diesel vehicles. However, the total Motor Vehicles Tax concessions shall not exceed 50% of the scrap value in both cases," the statement added.
"Further, the validity of the Certificate of Deposit is three years and it can be electronically traded," it added.
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