Excise waiver on low-cost bicycles sought
LUCKNOW: Chief minister Akhilesh Yadav has written a letter to Prime Minister Narendra Modi, requesting the Centre to waive excise duty on low-cost bicycles.
The move comes over a month after the state gover nment exempted low-cost bicycles from the Value Added Tax (VAT).
The CM wrote: “I request the government of India to waive excise duty on low-cost bicycles as these are purchased mostly by the low-income group.”
He also requested the Centre to specifically mention bicycles under the priority sector lending guidelines in view of their income generating potential so as to promote cycle finance by banks and non-banking financial companies (NBFCs).
In his letter, the CM argued, “While successive gover nments have been giving support directly and indirectly to the automobile sector that caters to comparatively richer sections of the society, it is time that we take steps to promote bicycles through policy measures.”
Yadav has exuded confidence that a concerted effort by the central and state governments will be successful in promoting this environmentally sustainable and healthy mode of transport that has immense potential of social and economic inclusion of a vast section of the popula- tion.
Yadav has appealed to Modi to instruct the ministries/ departments concerned to take immediate action. The CM has also assured the state government’s full support and cooperation in this regard.
The CM’s letter assumes significance in the backdrop of the state government’s moves to develop Lucknow, Noida and Agra as the bicycle-friendly cities where the state government proposes to develop cycle tracks.
It has decided to stop use of motorised vehicles on the campus of the Gautam Buddha University, Noida. More such decisions may follow.
The Royal Haskoning Company of Netherlands had made a presentation about the development of cycle tracks during the chief minister’s recent visit to Netherlands. The CM said the Dutch group had been asked to visit Lucknow to explore the possibility of setting up cycle tracks in various cities of UP.