Union Minister for Road Transport and Highways Nitin Gadkari has approved a proposal to impose a road green tax on old vehicles that pollute the environment. The Ministry of Road Transport and Road Transport has said that it will be sent to the states for consultation before its formal implementation. The ministry says that at the time of renewal of fitness certificate on a vehicle carrying more than eight years, a green tax of 10 percent to 25 percent could be levied on the road tax rate.
The tax will also be levied on personal vehicles over 15 years of age. Therefore, public transport vehicles such as city buses, etc. will have to pay less green tax. In highly polluted cities, a maximum of 50 percent green tax can be levied on registered vehicles. However, taxes may vary depending on the fuel and the vehicle.
Motor insurance is mandatory for all two-wheeler and four-wheeler vehicles such as cars, bikes, scooters, trucks running on the roads of India.
Vehicle owners can also get motor insurance for commercial vehicles. Motor vehicle insurance is the most important document for all vehicle owners/drivers. Its main purpose is to provide complete protection against physical damage or loss caused by the insured vehicle from natural and man-made disasters. In addition to self-harm cover, the insurance policy also provides coverage for third-party liability, which may be due to an accidental loss, injury, or death of a third party. In this way, the policy ensures peace of mind and safety on the roads.
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