The government of India has announced a 5% rebate on a new car purchase, if the old car is scrapped under the vehicle scrappage policy.The Minister for Road Transport and Highways has stated that automobile manufacturers will provide the rebate on new car purchases as an incentive for people to scrap their old vehicle.
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As per the scrappage scheme, personal vehicles will have to undergo a fitness test after 20 years.
The Government of India has announced the Voluntary Vehicle Scrappage Policy for private and commercial vehicles. The announcement was made by the Finance Minister during her 2021 Union Budget speech in the Parliament today.
As per the scheme, personal vehicles will have to undergo a fitness test after 20 years, while commercial vehicles will have to undergo the same test after 15 years. The tests will be conducted at government-appointed automated vehicle fitness centres. These vehicles will be eligible to be scrapped.
Details of the scrappage policy will announced at a later date. The scheme is expected to reduce pollution, while also creating demand for new vehicles.
TIMESOFINDIA.COM | Updated: Feb 1, 2021, 14:53 IST
NEW DELHI: Voluntary vehicle scrapping policy to phase out old and unfit vehicles has been announced in the Union Budget on Monday.
Finance minister Nirmala Sitharaman said vehicles will undergo a fitness test in automated fitness centres after 20 years (personal vehicles) and 15 years (commercial vehicles).
Details are awaited and will be available soon. Auto manufacturers and experts welcomed the move, which was stuck for the past decade.
Vinkesh Gulati, President FADA said “FADA is happy to note that the Finance Minister has finally announced the much awaited scrappage policy, though voluntary to phase out old vehicles. If we take 1990 as base year, there are approximately 37 lakh CVs and 52 lakh PVs eligible for voluntarily scrappage. As an estimate, 10% of CV and 5% of PV may still be plying on road. We still need to see the fine prints to access the kind of incentives which will be on offer and thus have a positive ef
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