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BS-IV Vehicles Purchased Till March 2020 To Remain Operational For Whole Registration Period: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman.
Addressing a press conference in New Delhi today (23 August), Finance Minister Nirmala Sitharaman announced that BS IV vehicles which are purchased before 31 March 2020 will be allowed to remain operational for the whole period of their registration.
In another announcement intended to bring back momentum to the automobile sector, she also announced a lifting of the ban on purchase of new vehicles by government departments.
Moreover, an additional 15 per cent depreciation has been made available for all vehicles which are purchased between now and 31 March 2020.
Sitharaman has also said that the planned revision of one time registration fees for vehicles has been deferred till 2020.
In recent months, the automobile sector was widely seen to be straining in the face of plummeting demand. Some companies had even started reducing production and announcing layoffs. The comprehensive policy announcements regarding the sector should likely help automakers in tackling their current problems.
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