Toll tax has been exempted across all the national highways till November 11 midnight. This was announced by Union Minister of Road Transport and Highways, Nitin Gadkari.
This decision has been taken by Ministry of Road Transport and Highways sighting the historic move of scrapping the 500 and 1000 denomination currency notes from Prime Minister Narendra Modi.
Gadkari announced this news on social media platform Twitter. He tweeted, "It has been decided to suspend Toll across all National Highways till midnight of 11th November to facilitate smooth traffic movement."
This historic decision from PM Narendra Modi has been hugely applauded by citizens across the country. The government has given a time window of 50 days from 10th November to 30th December to deposit Rs 500 and Rs 1000 notes in any bank or post office.
This decision will have its impact on the automobile industry too. Customers purchasing vehicles through cash will find it hard to deal with currency notes. Dealers are also worried about accepting booking amount from the customers.
According to auto experts, the SUV and luxury car segment sales will be affected from this scrappage of Rs 500 and Rs 1000 currency notes. But it will be a short term effect and on the longer run things will be normal.
The new currency notes of Rs 500 and Rs 2000 will be available from November 11 through all the ATM's and banks across the country.