Voluntary Scrapping Policy Can Generate Additional 5 Lakh Vehicle Sales When Implemented
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The Union Minister for Road Transport and Highways Nitin Gadkari today said that the Ministry of Road Transport and Highways (MoRTH) will be declaring the Scrappage Policy in 15 days. His announcement came after Finance Minister Nirmala Sitharaman s budget 2021 speech where she announced the Voluntary scrapping policy.
As per the FM s speech, the scrapping scheme will be based on the mandatory fitness test of vehicles which will undergo a fitness test in automated fitness centres. The timeline fixed for fitness test is 20 years for personal vehicles and 15 years for commercial vehicles.
Scrappage Policy: How your old car will not become scrap metal
Scrappage Policy: How your old car will not become scrap metal
The Scrappage Policy is due to arrive in the next fortnight. We tell you all about what will happen to old cars and how you can save yours.
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UPDATED: February 1, 2021 20:50 IST
Cars over 20 years of age will be allowed to ply on roads. However they will have to pass stringent fitness tests.
HIGHLIGHTS
Age limit of private vehicles increased from 15 to 20 years.
Benefits to come for those opting for the scheme.
Finance Minister Nirmala Sitharaman has announced a voluntary vehicle scrapping policy to phase out old and unfit vehicles. According to the Minister, this will not only help reduce pollution, but also reduce India’s fuel import bills. However there is more to the policy than just this. You can read all about the benefits of the Scrappage Policy and we also tell you how it is not a compulsory move and that you can retain your old
Union Budget 2021: Voluntary Vehicle Scrappage Policy To Be Announced Soon
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Highlights
Personal vehicles to undergo fitness tests after 20 years
Commercial vehicles to undergo fitness tests after 15years
In her presentation of the Union Budget 2021, Nirmala Sitharaman, India s Finance Minister, said “We are separately announcing a voluntary vehicle scrapping policy to phase out old and unfit vehicles. This will help encourage fuel-efficient and environment-friendly vehicles, thereby reducing vehicular pollution and oil import bills. More details will be shared soon by the Ministry. She said this will promote fuel-efficient and environment friendly vehicles while cutting on India s huge import bills. The proposed scrappage policy says that if a vehicle fails the fitness test more than thrice, it might be subjected to mandatory scrapping, according to the proposed policy. That said, the government is yet to roll
Union Budget 2021: Automotive Manufacturers Welcome Scrappage Policy And Highway Infrastructure Announcements
The Union Budget 2021, presented by N Sitharaman, India s Finance Minister, has been appreciated by the auto industry. Here s a look at some of the reactions on the 2021 Budget from industry leaders.
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Highlights
Voluntary scrappage policy announced for old, unfit vehicles
Highway network to be expanded by 8,500 km by March 2022
The Indian auto industry is one of the leading contributors to the country s GDP. Already in decline before the pandemic struck, the auto sector was hoping for a reprieve from Finance Minister N Sitharaman, in the Union Budget. The Finance Minister announced the coming of a voluntary scrappage policy for old and unfit vehicles along with significant budget allocation for improving India s highway infrastructure and increasing the custom duty for automotive parts. Overall, the auto sector has lauded the slew of related announcements
India Auto Inc responds to Budget 2021
The Finance Minister of India, Nirmala Sitharaman presented the Budget 2021, which has been looked upon wishfully by all-industries alike. For India Auto Inc, which was hoping for massive reforms that could help repair the damage witnessed in 2020, the budget has received a mixed bag of response. Here’s what India Auto Inc thinks of the Budget 2020-2021.
KENICHI AYUKAWA, PRESIDENT, SOCIETY OF INDIAN AUTOMOBILE MANUFACTURERS
“In a visionary budget, the government has adopted an expansionary stance with a thrust on infrastructure building with measures for efficiency improvement and increasing competitiveness. Good macroeconomic growth will translate to good auto sector demand. Specifically, the vehicle scrappage scheme has a good intent and the auto industry would be keen to work with the government on suggestions for maximizing benefits to environment and society.”