Explanation:

A Bill seeking to bring radical changes in the transport sector by amending the Motor Vehicles Act, 1988, has been sent to a Select Committee of the Rajya Sabha.
?    The bill, which would amend the nearly 30-year old Motor Vehicle Act, 1988 was passed by the Lok Sabha last year but had got stuck in the Rajya Sabha where the opposition had demanded that it be sent to the Select Committee for proper scrutiny. The parliamentary standing committee had also examined it.
Highlights of the Bill
?    The Bill amends the Motor Vehicles Act, 1988 to address issues such as third party insurance, regulation of taxi aggregators, and road safety.
?    Under the Act, the liability of the third party insurer for motor vehicle accidents is unlimited.  The Bill caps the maximum liability for third party insurance in case of a motor accident at Rs 10 lakh in case of death and at five lakh rupees in case of grievous injury.
?    The Bill provides for a Motor Vehicle Accident Fund which would provide compulsory insurance cover to all road users in India for certain types of accidents.
?    The Bill defines taxi aggregators, guidelines for which will be determined by the central government.
?    The Bill also provides for: (i) amending the existing categories of driver licensing, (ii) recall of vehicles in case of defects, (iii) protection of good samaritans from any civil or criminal action, and (iv) increase of penalties for several offences under the 1988 Act.