Transport Department created a speed breaker for Middle class person. A Middle class person has always dreamt to gift every comfort to his family by saving every single Penney to fulfil his and his family dreams, but sometime few things come up as a speed breaker in between his dreams. Recently, one such speed breaker was brought by the Transport Department of Jammu and Kashmir by Increasing 9 percent of the total cost of the vehicle as a Token tax for 4 wheelers and 10% of the cost of vehicle on motorcycles costing above 1.5 lakh.
This decision has stopped a middle class person from purchasing a vehicle as by this decision price of a 4 wheeler has increased between 40 Thousand to 1.5 lakh. Not only this, but when a person buys a vehicle, he has to take a bank loan and have to pay ROI between 9.50 percent – 11 percent, which also makes a big difference in the total cost of the Vehicle. As per the recent report published in a newspaper “Hike in road tax pushes vehicle sales down by 90 percent” which will also hit job employment.
Jammu and Kashmir is a middle class city with less resources of Income, Government of Jammu and Kashmir should rethink about this and revoke the order in favor of Middle class person.