Today, Prime Minister Narendra Modi launched vehicle scrappage policy in India today. PM Modi launched the policy at the Gujarat Investor Summit and has requested youth & start-ups to join this programme.
During the launch of National Automobile Scrappage Policy (Investors Summit for setting up Vehicle Scrapping Infrastructure), the prime minister said that the launch of Vehicle Scrappage Policy today is a significant milestone in India’s development journey.
In a series of tweet, the Prime Minister said -
The launch of Vehicle Scrappage Policy today is a significant milestone in India’s development journey. The Investor Summit in Gujarat for setting up vehicle scrapping infrastructure opens a new range of possibilities. I would request our youth & start-ups to join this programme.The vehicle scrappage policy is a government-funded programme to replace old vehicles from Indian roads. According to the new policy, commercial vehicles of more than 15 years and passenger vehicles of more than 20 years will have to be mandatorily scrapped if they do not pass the fitness and emission tests.
Vehicle scrapping will help phase out unfit & polluting vehicles in an environment friendly manner. Our aim is to create a viable #circulareconomy & bring value for all stakeholders while being environmentally responsible.
— Narendra Modi (@narendramodi) August 13, 2021
The scrapping policy, with a gamut of incentives/ dis-incentives is designed for creation of an ecosystem to phase out old and unfit polluting vehicles. It is likely to lead to higher growth in the auto and ancillary industries. It would also ensure availability of rare-earth metals, as also raw materials for steel industry, etc.
In addition, the policy is likely to generate more employment with development of the scrapping ecosystem, and higher growth in the automotive sector.
The new scrappage policy will not only help in the reduction of air pollution by 25 to 30% but will also help in improving road safety, said the the Union Minister Mr. Nitin Gadkari.
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