Green Tax - Effective Step At Curbing Pollution, Await Larger Affirmative Scrappage Policy: ICICI Direct
Vehicles sit in traffic on a road shrouded in haze in New Delhi, India. (Photographer Kuni Takahashi/Bloomberg)

Green Tax - Effective Step At Curbing Pollution, Await Larger Affirmative Scrappage Policy: ICICI Direct

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

The Ministry of Road Transport and Highways, vide its notification on January 25, 2020 has proposed to introduce a green tax on transport vehicles (buses, taxis, trucks) older than eight years in the range of 10-25% of the applicable road tax.

For personal vehicles, green tax is proposed for vehicles older than 15 years (rates not specified yet).

This green tax could be higher (50% of road tax) for vehicles in highly polluted cities.

Approval for the proposal is now pending with state governments given road tax is a state subject, post which it is expected to be notified in due course of time.

Click on the attachment to read the full report:

ICICI Direct Auto Sector Update.pdf

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