If you are eager to know about what was going on the much-awaited Vehicle Scrapping Policy. Your answer is here!
Union Minister, Nitin Gadkari said, the vehicle scrapping policy is in its final stages of approval and is likely to be rolled out in a months time or even earlier.
While speaking at the 60th annual session of the Automotive Component Manufacturers Association of India (Acma) he also added a few more points.
- The new scrapping policy is a very crucial component for the revival of the auto industry.
- We are clearing the policy with approvals from the highest authorities to benefit the revival and the future of the auto industry.
- Nitin Gadkari also reiterated the fact that India has the potential of becoming a “Global Automotive Hub” in the nearing future.
He added further, that the government will also be increasing import duties on designated imported products.
What is the Vehicle Scrapping Policy?
- To curb pollution and battle the slowdown in the automobile sector, the Government of India has proposed and funded a car scrapping policy.
- This policy aims at replacing old vehicles from Indian roads with new one’s.
- Once a vehicle’s registration certificate expires beyond its operational limit, a user can go to any government-authorised scrapping centre and surrender the vehicle.
What are the benefits of Vehicle Scrappage Policy in India?
A vehicle scrapping policy implementation in India will have many positive outcomes:
- First and foremost benefit is cleaner air. As inefficient vehicles will be taken off the roads, the air pollution levels will decrease.
- Vehicle scrapping will ensure removal of old vehicles and an increase in sales of new vehicles in India.
- With the increased sale of new vehicles with advanced safety features, travelling on Indian roads will become a lot safer.
- The government is also setting up authorised vehicle scrapping facilities, this will in-turn generate huge employment opportunities in India.
- Vehicle scrapping will be a major breakthrough for the raw and precious metal recycling industry in India.
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