1. You Are At:
  2. English News
  3. Business News
  4. Sitharaman: BS IV vehicles purchased till March 2020 valid for period of registration

Sitharaman: BS IV vehicles purchased till March 2020 valid for period of registration

The announcement of BS IV vehicles by Finance Minister Nirmala Sitharaman comes as good news for the auto industry.

India TV Business Desk India TV Business Desk
New Delhi Updated on: August 23, 2019 18:43 IST
Representative News Image
Image Source : PTI

Nirmala Sitharaman  makes announcement on BS IV vehicles 

Addressing a press conference, Finance Minister Nirmala Sitharaman Friday said BS IV vehicles purchased till March 2020 will remain operational for the entire period of registration. Speaking on the revision of one-time registration fee, the finance minister said the higher registration fees has been deferred till June 2020. 

The announcement of BS IV vehicles by Finance Minister Nirmala Sitharaman comes as good news for the auto industry. 

Finance Minister Sitharaman also spoke on the higher depreciation for all vehicles and said the focus of the government will be to set up an infrastructure for the development of components. 

"Government's focus will be on setting up of infrastructure for the development of ancillaries/components including batteries for export," Sitharaman said.  

To boost demand, Finance Minister Nirmala Sitharaman said, "Government shall lift the ban on the purchase of new vehicles for replacing all old vehicles by Departments."

"Government will consider various measures including scrappage policy," the finance minister said. 

The announcements were also confirmed by Finance Secretary Rajeev Kumar, through his official Twitter handle. 

Also Read | Big relief for markets as Nirmala Sitharaman rolls back tax surcharge on FPIs

Also Read | Highlights from Nirmala Sitharaman's press conference 

Video: Nirmala Sitharaman makes big announcement on BS IV vehicles

Write a comment

chandrayaan-2