"There Has Been an Increase in Inflation": Court Stresses Revising 'Notional Income' in Motor Vehicles Act's Second Schedule: Jammu & Kashmir High Court

In a significant ruling, the Jammu and Kashmir and Ladakh High Court has emphasized the need for revising the notional income of non-earning persons in road accident compensation cases. The court referred to the Motor Vehicles Act, 1988 and its Second Schedule which currently fixes a notional income of ₹15,000 per annum for non-earning individuals. This figure was set in 1994, but the Court highlighted that the increasing inflation, cost…