BSIV vehicles bought before Mar 31 to remain operational for their full period of registration: Finance Minister
New Delhi, Aug 23 (IBNS): Union Finance Minister Nirmala Sitharaman on Friday announced that BSIV vehicles bought before Mar 31, 2020 will remain operational for their full period of registration.
"BSIV vehicles bought before 31st March 2020 to remain operational for their full period of registration," she said while addressing a press conference.
"Revision of one time registration fee deferred till June 2020," she said.
"Additional 15% depreciation on all vehicles acquired from now till 31st March 2020," she said.
BSIV vehicles bought before 31st March 2020 to remain operational for their full period of registration: Union Minister @nsitharaman #GovtBoostsEconomy #NirmalaSitharaman pic.twitter.com/Ux64lO5A55
— PIB India (@PIB_India) August 23, 2019
Interestingly, Society of Indian Automobile Manufacturers (SIAM) recently said sale of Passenger Vehicles declined by (-) 21.56 percent in April-July 2019 over the same period last year.
Within the Passenger Vehicles, the sales for Passenger Cars, Utility Vehicle & Vans declined by (-) 26.45 percent, (-) 7.22 percent and (-) 30.97 percent respectively in April-July 2019 over the same period last year, said SIAM.
The overall Commercial Vehicles segment registered a decline of (-) 13.57 percent in April-July 2019 as compared to the same period last year. Medium & Heavy Commercial Vehicles (M&HCVs) declined by (-) 21.63 percent and Light Commercial Vehicles declined by (-) 8.56 percent in April-July 2019 over the same period last year.
Three Wheelers sales declined by (-) 7.43 percent in April-July 2019 over the same period last year. Within the Three Wheelers, Passenger Carrier sales registered a de-growth of (-) 8.02 percent and Goods Carrier declined by (-) 4.82 percent in April-July 2019 over April-July 2018.
Two Wheelers sales registered a de-growth of (-) 12.93 percent in April-July 2019 over April-July 2018. Within the Two Wheelers segment, Scooters, Motorcycles and Mopeds declined by (-) 15.58 percent, (-) 11.18 percent and (-) 20.17 percent respectively in April-July 2019 over April-July 2018.
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