Vehicle Scrappage Policy - Is it as good as it sounds?
Bob Rupani Updated: February 22, 2021, 09:59 AM IST
In her budget speech on 1
st February, the Finance Minister Nirmala Sitharaman announced that a Voluntary Scrappage Policy will soon be introduced. Apparently, those who scrap their old vehicles and buy new ones will get some incentives and Nitin Gadkari Minister for Road Transport and Highways, is giving the finishing touches to this long awaited policy. Gadkari has said, This policy will boost buying of new vehicles besides generating huge employment. Automobile industry turnover which is 4.5 lakh crore at present is likely to swell to Rs 10 lakh crore in years to come with India becoming an automobile hub .