Vehicle Scrapping Policy in its Final stage, Could Launch by September End

If you are eager to know about what was going on the much-awaited Vehicle Scrapping Policy. Your answer is here!

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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.

Read More: NGT pushes for urgent implementation of Vehicle Scrapping Policy in India

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.

Must Read: Vehicle Scrapping Policy Out For Public Feedback

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.

Want to Know more about the Vehicle Scrapping Policy CLICK HERE.