Odisha govt bans 18 lakh old vehicles policy to reduce environmental pollution

Bhubaneswar: The Odisha government on Wednesday decided to ban the plying of over 18 lakh unfit vehicles, mostly more than 15-years-old in order to reduce environmental pollution. Notably, there are 1.2 crore registered vehicles in the state. The government also offered incentives to encourage people to discard their outdated vehicles. A day after getting a green signal from the state cabinet, a notification was issued under Odisha Motor Vehicles (Registration and Functions of Vehicle Scrapping Facility) Policy 2022, that vehicle sellers will be advised to provide a five per cent discount on a new vehicle if the customer produces certificate issued by government-approved vehicle scrapping units. According to policy, if the customer presents a certificate of deposit or scrapping during the registration of a new vehicle, the government will grant a 25 per cent concession in motor vehicle tax for non-transport cars and a 15 per cent concession in case of transport ones. Additionally, the fee for certificate of registration will be waived for new vehicles. The value of the old vehicle will be approximately six per cent of its original price prevailing at the time of scrapping. In cases where the vehicle is not being manufactured any more, the scrapped value will be decided after negotiation between the vehicle owner and the scrapping centre operator. It is significant to mention here that the policy also benefits investors who intend to set up RVSFs that will be recognised as industrial units. Government land would be allotted for the establishment of the scrapping units. Concessional rates for land will be applicable as specified in Industrial Policy Resolution. Therre will be no stamp duty associated with the purchase of land. The RVSFs will be exempted from payment of premium for conversion of land for industrial purpose. Over 10 per cent capital investment subsidy will be provided up to a maximum limit of Rs 1 crore. The industrial unit will also be eligible for reimbursement of 25 per cent of net state GST paid for seven years. The policy read that RVSF will also be exempted from payment of electricity duty for five years. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.