Adequate funds have been allocated to junk government-owned old vehicles in a bid to reduce pollution, Finance Minister Nirmala Sitharaman announced in her budget speech on Wednesday.
Sitharaman, who presented the Union Budget for the financial year 2023-24 today, said that the central government will also lend support to states to help replace old vehicles and ambulances, pointing that scraping old polluting vehicles is a vital part for a greener economy.
She added that the government will boost coastal shipping with viable gap funding through PPP mode to promote as energy-efficient and lower-cost mode of transport for both passengers and freight.
Union Road Transport and Highways Minister Nitin Gadkari had recently announced that over nine lakh vehicles, owned by central and state governments, transport corporations and public sector undertakings, older than 15 years will be scraped and replaced from April 1.
Gadkari’s ministry recently issued a notification in this regard, which states that all vehicles owned by central and state governments, including buses owned by transport corporations and public sector undertakings, that are older than 15 years will be de-registered and scrapped from April 1.
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However, special purpose vehicles (armoured and other specialised vehicles) used for operational purposes for the defence of the country and for the maintenance of law and order and internal security, are exempt from this rule, according to the notification.
Nirmala Sitharaman, who presented her fifth consecutive budget today at 11 am, announced a capital expenditure (CAPEX) outlay of Rs 10 lakh crore for the financial year 2023-24, a 33 percent increase from the allocation announced in the previous budget.
Sitharaman, in her budget speech announced the increase of capital investments outlay of Rs 10 lakh crore for 2023-24, a 33 percent hike, compared to the outlay of Rs 7.5 lakh crore for the previous financial year.
She said the capital investment outlay will be hiked by 33 percent to Rs 10 lakh crore, accounting to 3.3 percent of the GDP in 2023-2024 fiscal.
Nirmala Sitharaman wears red saree for Budget 2023 | A look at her love for Sambalpuri, Ikat, Kanjivaram sarees
Nirmala Sitharaman wears red saree for Budget 2023 | A look at her love for Sambalpuri, Ikat, Kanjivaram sarees