Vehicle Scrappage policy helps phase out unfit and polluting vehicles.
The above policy would help bring investments nearing to Rs. 10,000 crore
This policy also helps in creating 35,000 jobs
This policy also aims at creating ecosystem for phasing out unfit and polluting vehicles.
Nitin Gadkari, stated commercial vehicle, above 15 years and personal vehicles above 20 years would be marked for scrapping.
For vehicles owned by the government and allied entities such as PSUs, this policy would kick in earlier, from April 2022.
Vintage cars will be exempt from this policy.
Incentives such as tax rebate upto 25%, waiver of registration fee and discount by vehicle manufacturers.
The road and transport ministry would issue advisories to carmakers to give a 5% discount on new purchases, after an old vehicle has been scrapped on the basis of a certificate.