Announcement of tax exemption in scrapping of 15 years old vehicles, states also Rs. 2000 crore package

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- The amount of the 'Special Assistance to States for Capital Investment' scheme announced by the government in the budget has been increased to 1.07 lakh crore.

AHMEDABAD: The central government has announced a package of Rs 2000 crore for states to scrap old vehicles. This package will be provided under Special Assistance to State Governments for Capital Investment Scheme. Apart from this, a tax exemption has also been announced for vehicle dealers who give their old vehicles for scrap.

The government had allocated Rs 1.05 lakh crore under the 'Special Assistance to States for Capital Investment' scheme in the 2022-23 budget. Under this scheme, financial assistance is provided to state governments in the form of interest-free loans for capital projects for a period of 50 years.

The Central Government will provide an additional Rs. 2000 crore has been announced. In a letter to the states last month, the finance ministry said that under the scheme, a new sector road transport has been identified for the states to promote.

With the inclusion of the road transport sector, the total amount under this scheme has increased from Rs 1.05 lakh crore to Rs 1.07 lakh crore.

So far the government under this scheme has spent Rs. 77,110 crore has been sanctioned, of which Rs. 41,118 crores have been announced to the states.

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