Waive taxes and provide microfinance to promote cycle ownership in India, says TERI’s new report

The Government should waive taxes on cycles that cost less than Rs 5,000 to promote cycle ownership in the country, says a new study. The Energy and Resources Institute (TERI) in association with the 'All India Cycle Manufacturers' Association' launched the report, "Pedalling towards a Greener India: A report on promoting Cycling in the country" at an event in New Delhi today. It is a detailed study on cycling and the cycle industry in India.