Vehicle renewal scheme gains momentum
Key Highlights
- The PARIVARTAN Scheme has registered more than 1,300 beneficiaries since its launch in July 2026.
- A total of 42 banks and NBFCs and 15 automobile OEMs have joined the scheme.
- The initiative aims to replace over two lakh BS-IV and older commercial vehicles across Delhi-NCR.
- The scheme has a total financial outlay of ₹9,585 crore.
- Eligible buyers can receive interest savings, road tax waivers and registration fee waivers.
- Participating OEMs will provide a minimum 8 per cent discount on eligible vehicles.
- Electric commercial vehicle buyers can receive incentives of up to ₹2.56 lakh.
New Delhi, August 29, 2026: The PARIVARTAN Scheme has registered more than 1,300 beneficiaries since its launch in July, as the government steps up efforts to replace older commercial vehicles and reduce transport-related air pollution across Delhi-NCR.
A total of 42 banks and non-banking financial companies (NBFCs), along with 15 automobile original equipment manufacturers (OEMs), have been onboarded under the programme to support vehicle financing and replacement incentives.
PARIVARTAN, or the Programme for Accelerated Renewal and Incentivization of Vehicle Assets for Reducing Transport Air Pollution and Network Emissions, was launched on July 14, 2026.
The scheme aims to facilitate the replacement of more than two lakh trucks and buses operating under Bharat Stage-IV or earlier emission standards with BS-VI or stricter norm-compliant vehicles, including electric commercial vehicles.
As of August 27, more than 1,300 beneficiaries had registered through the PARIVARTAN Portal.
The programme covers eligible commercial vehicles registered in the National Capital Territory of Delhi and NCR districts located across Haryana, Rajasthan and Uttar Pradesh.
The scheme has a total financial outlay of ₹9,585 crore, including ₹5,041 crore in budgetary support from the Central Government.
Funding for the programme is being provided through the National Capital Region Planning Board under the Ministry of Housing and Urban Affairs, while the Ministry of Road Transport and Highways is responsible for its implementation.
Eligible buyers replacing older commercial vehicles with new BS-VI or stricter emission-compliant diesel or CNG vehicles, as well as electric vehicles, can access a range of financial incentives.
The benefits include interest savings of 5 per cent on eligible vehicle loans for a period of five years. Buyers are also eligible for a 100 per cent road tax waiver for 10 years and a complete waiver of registration fees.
Delhi, Haryana, Rajasthan and Uttar Pradesh have issued notifications supporting the applicable road tax and registration fee waivers under the scheme.
Participating automobile manufacturers are required to offer a minimum discount of 8 per cent on the ex-showroom price of eligible vehicles.
Buyers opting for BS-VI diesel or CNG commercial vehicles can also receive monthly fuel vouchers ranging from ₹1,200 to ₹4,800 for five years, depending on the category of vehicle.
For buyers choosing electric commercial vehicles, the scheme provides a one-time financial incentive ranging from ₹64,000 to ₹2.56 lakh.
The onboarding of 42 banks and NBFCs is expected to support the programme’s interest subvention mechanism and make financing more accessible for eligible vehicle owners.
Meanwhile, agreements with 15 automobile OEMs will help ensure that buyers receive the required vehicle discounts under the scheme.
The government is also conducting awareness campaigns across Delhi-NCR through print, electronic and digital media. Additional outreach activities are being carried out through outdoor publicity at fuel stations, transport hubs, toll plazas and Regional Transport Offices.
With registrations continuing to increase, the PARIVARTAN Scheme is expected to play an important role in accelerating the replacement of older commercial vehicles while supporting cleaner transportation and efforts to reduce air pollution across the Delhi-NCR region.
