Gaurav Choudhury Moneycontrol News
In the last few years, with growing urbanisation and rising incomes, the number of motor vehicles in India have increased steadily.
The number of registered motor vehicles in India grew by 123% between 2005 and 2013. And between 2005 and 2015, the number of road accidents increased by 14%, and road accident fatalities increased by 54%.
An increase in the number of vehicles on roads, along with the absence of a coordinated policy to control the problem has attributed to an increase in the number of road accidents.
The Motor Vehicles (Amendment) Bill 2017 will address issues such as third party insurance, regulation of taxi aggregators, and road safety.
If passed, the bill will radically change the course of punishments and fines to be paid for various traffic related offenses.
Sakshi Batra talks to Moneycontrol Economy Editor Gaurav Choudhury on the salient features of the amendment bill and how the law, if enforced, will affect the common man. Watch the accompanying video…
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
