The vehicle scrapping policy will play an important role in modernizing the country’s automobile population, removing unfit vehicles from the roads in a scientific manner, Prime Minister Narendra Modi said during a speech at the Investor Summit in Gujarat via video conference.
Here’s everything you need to know about the National Auto Scrappage Policy:
This policy will follow the principle of Reuse, Recycling and Recovery will also promote the country’s autonomy in the automotive sector and in the metallurgical sector.
The policy will bring in a new investment of more than ₹10,000 crores and will create thousands of jobs,” according to Prime Minister Narendra Modi.
A certificate will be issued when the old vehicle is scrapped. Anyone who has this certificate will not have to pay any money for registration when buying a new vehicle.
The vehicles will be scientifically tested in authorized automated test centers. Unsuitable vehicles will be scrapped scientifically.
The maintenance cost, repair cost, fuel efficiency of the old vehicle will also be saved.
Politics will play a key role in the Waste to Wealth agenda, Modi said, adding that it will also help reduce pollution in our cities.
A circular economy is one in which products are designed to be sustainable, reused and recyclable. The policy will give India a new identity in the mobility and automotive sector, Modi said.
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