Friday, 4 January 2019

This is how the Motor Vehicles Amendment Bill 2017 is going to help India financially

In a nation where every four minute a person dies because of road accidents, our nation faces a loss worth billions every year. India spends almost 3% of its GDP annually on these road-accidents. That’s Rs 55,000 crore ($8.2 billion) per annum. Every year, over 1,47,000 people die because of Over-speeding, drunk driving, not using necessary safety gears and due to many other factors. Most of the financial support received from UN is spent on managing freeways, highways and road construction while most of the value from the amount received is spent on the aftermath of the accidents like accident management and repairing works. India is only behind Japan ($63,000 million) in terms of money spent on road accidents, in the study covering 19 countries of the Asia-Pacific region, while in terms of GDP loss it comes behind Iran which is at 6 percent ($30,697 million).

With a dramatic reduction in the number of road-accidents all over India, this amount can be reduced drastically. India looks forward to reduce road crash fatalities by 50% by 2022. The Motor Vehicle Amendment Bill 2017 is a big and an ambitious step forward to achieve the stated goal. The MVA Bill 2017 promotes safer driving by enforcing stricter laws, higher penalties and making the licensing system centralized.

Some major changes which are proposed in the Bill are as follows:
  • Mandatory Aadhar for centralization of the whole system. 
  • For deaths in hit-and-run cases, the government will provide a compensation of Rs 2 lakh or more to the victim's family. Currently, the amount is just Rs 25,000. 
  • People fears helping an accident victim from getting into additional trouble. MV Act 2017 promises to keep your identity secret in this case. Good Samaritans gets extra secrecy.
  • The Motor Vehicles Amendment Bill ensures National Transportation Policy’ to establish a framework for road transportation planning discussing with state governments. Better roads for better security.
  • Under the Motor Vehicles Act, 1988, there is no limit for a third-party car or two-wheeler insurance. The Bill, however, amends to cap a maximum third-party legal liability to Rs. 10 lakh for death and Rs. 5 lakh for serious injuries.
  • Compulsory automatic fitness training for vehicles reduces the chances of unsafe vehicles getting permit to run on the roads. Safer vehicles to make safer roads.
  • Electronic Monitoring will ensure better recognition of law violators and stricter actions against offenders.
The slow pace and delay on road constructions due to road crashes, different private sector’s works on road construction and repair works are the main reasons of a huge amount of money being spent on road-safety each year, but not quite much difference has been observed in the stats of road accidents in the past decade at all.
With a centralized database, it will be easier to fight against fake or duplicate driving license and punish law breakers and criminals in a better way. MVA Bill aims to reduce road traffic accidents and casualties 50% by the next few years. If this becomes successful, it will be a huge to boost the country’s GDP, thus, reducing the huge amount of finance spent on this field too. With a better infrastructure, more money spent on the improvement of the current road network will make the country’s transport system better than ever while helping the economy too.
Let’s change the road safety scenario for a better and a safer India!

#MeriZiddMVA2017 #IDemandaSaferIndia #HumseFarakPdtaHai

No comments:

Post a Comment