Olectra Greentech Limited, Montra Electric (TI Clean Mobility Private Limited) also join the Government of India scheme to provide discount for the replacement of old trucks and buses in Delhi-NCR

Prelims-testable facts

• 01The Government of India has extended its scheme, PARIVARTAN, to provide discounts on the purchase of eligible trucks and buses for replacing old vehicles in Delhi-NCR region.
• 02Olectra Greentech Limited and Montra Electric have signed Memorandum of Understanding (MoU) with the Ministry of Road Transport and Highways to offer an 8% discount on ex-showroom prices for electric and Internal Combustion Engine (ICE) eligible trucks and buses.
• 03The Central Government will provide a 5% interest subvention for purchasing eligible vehicles under the PARIVARTAN scheme.
• 04Participating State Governments offer up to 100% concession on motor vehicle tax for ten years under the PARIVARTAN scheme.
• 05There is a waiver of registration fees for eligible vehicles purchased under the PARIVARTAN scheme.
• 06Fixed monthly fuel vouchers will be provided for five years by the Central Government to users of eligible vehicles under the PARIVARTAN scheme.

Trap alerts

• Most people think that only electric vehicles are eligible for discounts under the PARIVARTAN scheme, but actually both electric and Internal Combustion Engine (ICE) vehicles are eligible.
• Most people think that the discount offered by Olectra Greentech Limited and Montra Electric is exclusive to their vehicles, but actually it applies to all eligible vehicles purchased from any manufacturer.