On Budget 2021-22
We welcome the Union Budget tabled by the Finance Minister, especially the announcement of voluntary scrapping policy. This comes in as a big support to automakers. who will benefit from this policy. Moreover, personal vehicles older than 20 years and commercial vehicles older than 15 years to undergo a fitness test are indeed focused on phasing out older vehicles. It will in turn promote the use of more Eco-friendly vehicles. The specifics of the policy will be announced by MoRTH in the days to come. The annual budget brings in good news for commercial vehicles as well with crore to be allotted for procuring and maintaining 20,000 buses as well as the construction of road infra to support the sale of commercial vehicles It is, therefore, the highest ever allocation Of 71.08 trillion to MoRTH for capital. We further welcome the FM’s move on increasing custom duties on some auto parts by 15%.
