The fiscal policy presented in the parliament today has doubled the vehicle tax for next fiscal 2015-16. The annual vehicle tax for minibuses, mini trucks, trucks and buses has been hiked to Rs 3,000, which was Rs 1,500 this fiscal.

Likewise, owners of cars, jeeps, vans and micro buses from next fiscal will have to pay Rs 2,400 annual tax, which is a cent per cent increment from the existing Rs 1,200.

For three-wheelers, the vehicle tax has been increased from Rs 850 to Rs 1,550. The government has also raised the annual vehicle tax of power tillers and tractors to Rs 1,000 for next fiscal from Rs 750 this fiscal.

Similarly, road maintenance tax has been increased for vehicles with higher engine displacement (cc). As per the new rule, for vehicles that are in between 251cc to 400cc, the annual tax has been fixed at Rs 10,000 for road construction and maintenance.

For vehicles that have capacity of more than 400cc, the annual tax has been fixed at Rs 15,000. Such tax was fixed at Rs 9,000 for all vehicles with capacity of more than 200cc in this fiscal.