Lease Or Own A Car? Paytm’s Vijay Shekhar Sharma Sparks Debate Over Fuel Ban For Old Vehicles In Delhi

Paytm Founder Vijay Shekhar Sharma on Tuesday questioned the latest ban implemented in Delhi over dispensing fuel to end-of-life vehicles. The new rule, effective July 1, targets 15-year-old petrol and 10-year-old diesel vehicles.

In a post on X, he asked whether this move would prompt more people to lease cars instead of owning them. Sharma also asked if any financial influencers or experts had done the math to figure out when leasing becomes the smarter choice given these new rules.

“How many of us will opt for leasing a car instead of owning one, due to this? Did some F.I.R.E. or finfluencer do a calculation for this yet? Also, what price cars are at the tipping point?” he said.

FIRE refers to Financial Independence, Retire Early— a financial planning strategy for early retirement.

His remarks are in response to a video shared by the news agency ANI, showing notices put up across petrol pumps in Delhi. The video featured visuals from Delhi’s Baba Kharak Singh Marg, with CCTV cameras and speakers installed to ensure compliance.

As Sharma’s post sparked debate about urban mobility, many people agreed with him. Many users noted that for cities like Delhi, electric vehicles were a better option.

“The government should first focus on reducing the cost and taxes on cars,” a user said.

In the ANI video as well, several people appeared frustrated with the decision, calling it “economic cruelty”.

“It is aimed at breaking the backs of the middle class. After squeezing them for all types of taxes, this is a new ploy by the government to force them to buy a new vehicle,” a user commented.

The move by the government comes amid efforts to curb vehicular pollution in the national capital. The fuel ban for old vehicles is likely to affect more than 61 lakh vehicles in Delhi, according to an NDTV report. End-of-life vehicles will be identified by Automatic Number Plate Recognition cameras installed at petrol pumps across the city.

Earlier, other measures were also taken in this direction. The Supreme Court in 2018 banned 10-year-old diesel and 15-year-old petrol vehicles in Delhi. A 2014 NGT order also bars parking vehicles over 15 years old in public spaces.

The latest move appears to be a heightened compliance effort by the government, reinforcing earlier bans.