NEW DELHI: A study named ‘Benefits of Cycling in India: An Economic, Environmental and Social Assessment’ by The Energy and Resources Institute (TERI) has advocated for the uses of bicycles instead of two-wheeler and four-wheeler vehicles for short distance trips or going for the workplace.
Released on Friday, the study claims that this change can help the Indian economy benefit financially with Rs. 1.8 trillion per year, even if a bicycle is used for 50% of trips between the 3.5-8 km distance. The reduction of air pollution, greater physical health leading to greater peace of mind and productivity as well as less expenditure on fuel savings by the common man and environment management by authorities are some of the direct benefits possible from this move.
The study recommends local and national authorities to create a powerful cycling infrastructure and systems as well as public awareness campaigns. For low-income households to afford bicycles, it becomes essential to provide micro-financing options, cycle sharing schemes and reduced parking rates.
One of the solutions stated is to reduce the GST rate of cycles costing below Rs 5000 from 12% to 5%, which will help in brushing off the perception that the mode of transport isn’t affordable or practical for every strata of society. For execution of such recommendations, the study has also advocated the formation of a ‘Bicycle Development Council’, helping the sector grow.
The launch of the study was witnessed by Union Minister of Commerce and Industry, Suresh Prabhu amongst other dignitaries, who gave a positive feedback for the same, Economic Times reports.
