Last Updated on June 19, 2026 12:28 am by BIZNAMA NEWS
A R DAS
The Road Transport and Highways Ministry and Tata Motors today signed a memorandum of understanding (MoU) for replacement of old trucks and buses in the Delhi-NCR region. Under the agreement, the Original Equipment Manufacturer (OEM) will provide an 8 per cent discount on the ex-showroom price of eligible trucks and buses purchased under the scheme.
The Ministry informed that in addition to the 8 per cent discount offered by participating OEMs, the Central Government will provide 5 per cent interest subvention and fixed monthly fuel vouchers for a period of five years. It added that participating State Governments will provide up to 100 per cent concession on motor vehicle tax for a period of ten years and waiver of registration fees for eligible beneficiaries under the scheme.
The Ministry further said that for electric vehicles, the discount shall be capped at the discount applicable to an Internal Combustion Engine (ICE) vehicle of the equivalent Gross Vehicle Weight (GVW) category.
Earlier in the week, Ashok Leyland and Switch Mobility had also signed the MoU with the Government for implementation of the scheme.