Here’s all you need to know about the vehicle scrappage policy Gadkari announced

Gadkari said the absence of a fitness certificate will mean automatic cancellation of registration for commercial vehicles that turn 15. The registration of a private vehicle will be for 20 years, with renewal requiring proof of fitness
The move is expected to reduce pollution, create job opportunities, through the registered scrapping centres, and boost demand for new vehicles. (File photo)
The move is expected to reduce pollution, create job opportunities, through the registered scrapping centres, and boost demand for new vehicles. (File photo)
Published on Mar 19, 2021 09:43 AM IST
Copy Link
ByHT Correspondent | Edited by Sameer

Union minister Nitin Gadkari on Thursday announced the details for the country’s long-awaited vehicle scrapping policy in Parliament. Here is all you need to know about the policy:

• Gadkari said the absence of a fitness certificate will mean automatic cancellation of registration for commercial vehicles that turn 15

• The registration of a private vehicle will be for 20 years, with renewal requiring proof of fitness.

• Gadkari said the government plans to incentivise owners of old vehicles to scrap these through registered scrap centres.

• The move is expected to reduce pollution, create job opportunities, through the registered scrapping centres, and boost demand for new vehicles.

• Gadkari said the scrapping policy will lead to a new investment of around 10,000 crore and create 35,000 jobs.

• Some of the incentives are scrap value for the old vehicle given by the scrapping centre, expected to be 4-6% of the price of a new vehicle; a potential road-tax rebate of up to 25% for new personal vehicles and up to 15% for new commercial vehicles; and a potential discount of 5% against the scrapping certificate.

SHARE THIS ARTICLE ON
Close Story
SHARE
Story Saved
×
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, May 27, 2022