HYDERABAD: Telangana is all set to receive a Rs 176.5 crore incentive from the Union government for implementing MV tax concession, announcing the vehicle scrapping policy and other initiatives.
According to officials, the Ministry of Road Transport and Highways has recommended that the Finance Ministry release the said amount to the state government. Funds are expected to be released soon.
The state government met the eligibility criteria to receive incentives under the Special Assistance to States for Capital Investments (SASCI) scheme for 2024-25 as it completed activities set by the Ministry of Road Transport and Highways.
For notifying and implementing Motor Vehicle Tax Concession, the state government was eligible to receive Rs 50 crore and for announcing the vehicle scrapping policy, it was eligible for a Rs 75 crore incentive.
Similarly, the state government was awarded ATSs in 37 transport districts; of them 21 ATSs have been awarded in priority districts. With this the state is eligible for Rs 31.5 crore for priority districts and Rs 20 crore in non-priority districts, the officials added.