As the country is waking up for
an environmental concern of air pollution, the government proposed a car
scrapping policy under which any vehicle of 10 years and above can be scrapped
with some benefits offered to buy a new car. Mr. Nitin Gadkari, Minister for
Road Transport and Highways believes that the new incentive policy has a
potential that could even quadruple the turnover of the automobile industry.
”We will put the vehicle scrapping policy
on a website within a week to seek suggestions and based on that we will seek
Finance Ministry's approval. Once approved, it will be sent for the Cabinet
nod,” Gadkari told PTI in an interview.
The incentive scheme will feature an excise
rebate of 50% on new vehicle purchase, additionally respecting the demand from
the government the automobile industry will also be offering additional
benefits over and above the government incentives like discount on purchase of
new vehicle if a person provides the certificate of scrapping to the dealer.
The government is also
considering a financial incentive of up to Rs 1.5 lakh on surrender of vehicles
that are over 10 years old to check pollution and address safety concerns.
Small vehicles will be offered an
incentive of up to Rs 30,000 for those surrendering small vehicles while trucks
could be in for total benefits worth Rs 1.5 lakh.
This new move is intended to
enable the entry of cleaner vehicles on the roads that emits less pollution
when compared to the old ones. Also the move when implemented will also
increase the demand for new vehicles all around the country as large number of
people will opt to change their old car amid the incentives they will be
getting.
While the policy will take some
time to get fully implemented meanwhile sell your used vehicles at Shriram Automall anywhere in India. The company
follows an easy process to buy or sell used
vehicles in India through their transparent bidding platforms.
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