NEW DELHI, June 3 (Xinhua) -- The Indian government on Wednesday announced a two-year scheme to accelerate the transition to cleaner transport technologies in a bid to reduce vehicular pollution in New Delhi.
With a total financial outlay of 95.85 billion Indian rupees (around 1 billion U.S. dollars), the scheme offers incentives to owners of trucks and buses registered in the Delhi-National Capital Region to replace their old vehicles with newer versions, particularly electric vehicles (EVs), according to a statement issued by the federal cabinet.
The federal government would provide 5 percent interest subvention on loans for five years, monthly fuel vouchers worth up to 4,800 Indian rupees (around 50 dollars) depending on vehicle category, and lump-sum benefits for EV purchases, the statement said.
The scheme is expected to significantly reduce vehicular emissions and contribute to improved air quality across the Indian capital, it said. ■