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Union Government to roll out BS V norms from April 1, 2019

Union Government has decided to advance the date for implementation of Bharat Stage (BS) V and BS VI emission norms for four-wheelers in order to reduce vehicular air pollution from road transport sector. As per advance dates,  BS V norms will be rolled out from 1st of April, 2019 and BS VI norms from 1st April, 2021. In this regard draft notification was issued Union Ministry of Road Transport and Highways as per the Auto Fuel Policy, 2003. About Bharat stage (BS) norms Bharat stage (BS) norms are emission standards decided by the government to regulate the amount of air pollutants from vehicles. They were adopted in line with European regulation standard ‘Euro norms’ in 2000. So far, 4 states of Bharat stage (BS) norms have been issued by government. In each stage certain limit is specified on the released pollutants and in the succeeding higher stages, the BS norms reduces the limit of pollutant emission. Issued BS stages are BS-I      Euro 1     2000 BS-II    Euro 2     2005 BS-III   Euro 3     2010 BS-IV   Euro 4     2015 (63 cities till 1 April 2015) Earlier, Saumitra Chaudhri Committee had recommended to introduce even lesser vehicular pollutant releasing BS-V (0.005 rspm) and BS-VI (0.0025 rspm) norms throughout the nation by 2022 and 2024 respectively.


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Important Points related to FIF

1) The overall corpus of the new FIF will be Rs. 2000 crore. 

2) Contribution to FIF would be from the “interest differential” in excess of 0.5% on RIDF and STCRC deposits on account of shortfall in priority sector lending (as notified by RBI from time to time) kept with NABARD by banks.

3) The Fund shall be in operation for another three years or till such period as may be decided by RBI and Government of India in consultation with other stake holders.

4) The objectives of the FIF shall be to support “developmental and promotional activities” including creating of FI infrastructure across the country, capacity building of stakeholders, creation of awareness to address demand side issues, enhanced investment in Green Information and Communication Technology (ICT) solution, research and transfer of technology, increased technological absorption capacity of financial service providers/users with a view to securing greater financial inclusion. 

Note: The fund shall not be utilized for normal business/banking activities.


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