‘Truck rentals costlier by 2-2.8 per cent’

Our Bureau New Delhi | Updated on September 16, 2021

Report cites export recovery and festival season among various causes

Amid the recent hike in diesel and tyre prices, truck rentals rose 2-2.8 per cent in the last two weeks, says a report by the Indian Foundation of Transport Research and Training (IFTRT).

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Recovery in exports, construction, infrastructure, general merchandise, FMCGs, consumer durables, electronic items, steel, cement, feritlisers and movement of fruits and vegetables have pushed up truck utilisation by 10-15 per cent, the report said. The increase in e-way bills issued by traders and transporters for medium and long haulage, the inventory piled up for the festival season by wholesalers, and improved consumer spending have also contributed to the increase in truck rentals, the report said.

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For 18-tonne payload multiaxle trucks, the rental for a Delhi-Mumbai-Delhi roundtrip was ₹1,21,500-1,24,500 in the last two weeks — an increase of 2.5 per cent compared to the August 15-31 fortnight. For Delhi-Kolkata-Delhi, it was ₹1,02,000-105500 — an increase of 2.8 per cent. For Delhi-Chennai-Delhi it was ₹1,34,500-1,38,500 — an increase of 2.7 per cent. Senior fellow and coordinator of IFTRT SP Singh said transport contractors have received 28 per cent input tax credit under GST on purchase of new goods carriers, along with the depreciation allowance under the Income Tax Act.

Published on September 16, 2021

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