New scrappage policy for 15-year old vehicles soon: Nitin Gadkari
ECONOMY & POLICY

New scrappage policy for 15-year old vehicles soon: Nitin Gadkari

Nitin Gadkari, Union Minister for Road Transport and Highways, claimed that the government is expected to approve the new scrappage policy for 15-year old vehicles soon.

The proposal for the amendment to the motor vehicle norms was first introduced in July 2019 to expedite the adoption of electric vehicles (EVs) in the country.

The new policy will not only include cars but also buses and trucks that are 15 years or older.

The minister claimed that the new policy would bring down the prices of automobiles and also transform the nation into an automobile hub. The reduction in prices will be aided by the use of recycled materials from older cars.

Earlier this week, reports suggested that the new policy might feature in the Union Budget for the upcoming fiscal year. Finance Minister Nirmala Sitharaman had claimed that a policy for the scrapping of old vehicles was in motion and is to be announced after the concerned ministries "fine-tune" it.

Also read: SOS: Defer BS-IV and bring in Vehicle Scrappage!

Also read: Auto Scrappage Policy soon: Will CV market dynamics change?

Image Source: Youtube/ Sagar Sawant

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