The Delhi government has announced a new incentive scheme that offers a 10-20% tax rebate for buyers of new vehicles who choose to scrap their old ones. Chief Minister Atishi approved the initiative, which aims to phase out older, more polluting vehicles from the roads and promote the adoption of cleaner alternatives.

According to a statement released by the government, the tax rebate will vary depending on the type of vehicle purchased: a 20% rebate will be provided for non-commercial CNG and petrol vehicles, 15% for commercial CNG and petrol vehicles, and 10% for diesel vehicles.

The scheme, designed to encourage the use of vehicles with updated emission standards, will soon be formally notified. To benefit from the scheme, vehicle owners must obtain a scrapping certificate from a registered facility and present it when registering their new vehicle within three years of scrapping their old one. (Business Standard)