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New Delhi: In what could give a further boost to the automobile industry, the finance ministry may make announce Scrappage policy in the upcoming Union Budget, sources told Zee Media.
What is scrappage policy and how it benefits you
The Scrappage policy, if announced during the Union Budget 2021 and eventually implemented would mean that old vehicles plying on the roads will be phased out. Such vehicles that are major contributor of environment pollution are the ones that will be targeted under Scrappage policy. Usually old vehicles that have had their run for between 15-20 years are likely to be considered.