Correct option is D
The correct answer is (d) Only 1 and 3
Explanation:
The Ministry of Road Transport and Highways (MoRTH), in consultation with the Insurance Regulatory and Development Authority of India (IRDAI), issued a draft notification dated 14 June 2023 proposing Motor Third Party Premium and Liability Rules for the Financial Year 2023–24.
Let’s evaluate each statement:
- Statement 1: A discount of 15% in premium has been proposed for educational institution buses.
Correct – This has been proposed to support institutions and ensure affordable transportation for students. - Statement 2: A discount of 25% in premium has been proposed for a private car registered as a Vintage Car.
Incorrect – The actual proposed discount is 50%, not 25%. - Statement 3: A discount of 15% and 7.5% in premium has been proposed for electric vehicles and hybrid electric vehicles, respectively.
Correct – This move is aimed at promoting cleaner transportation.
Hence, only Statements 1 and 3 are correct.
Information Booster:
- MoRTH’s Third-Party Premium Discounts FY 2023–24:
o Educational Institution Buses: 15% discount.
o Electric Vehicles (EVs): 15% discount.
o Hybrid Electric Vehicles: 7.5% discount.
o Vintage Cars: 50% discount (not 25%).
These discounts are introduced to encourage green vehicles and support educational transport infrastructure.
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