New Delhi: Prime Minister Narendra Modi on August 13 launched Vehicle Scrappage Policy. PM Modi said during a virtual address at the Investor Summit in Gujarat that “the vehicle scrappage policy will bring in investments of around Rs 10,000 crore and Alang in Gujarat can become a hub for vehicle scrapping.”
PM Modi said on the current scrapping method, “the current method of scrapping of materials is not productive. The Launch of Vehicle Scrappage Policy 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. Vehicle scrapping will help phase out unfit and polluting vehicles in an environment-friendly manner. The government aims to create a viable circular economy and bring value for all stakeholders while being environmentally responsible” PM Modi added.
Nitin Gadkari
– the Union Minister for Road Transport and Highways also remained present at the event.
“The scrappage policy likely lead to a cut in raw material costs by around 40 percent,” Gadkari said.
Testing centers will be set up in all districts across the country using the public-private partnership (PPP) model.
The policy is aimed at incentivizing owners of old and polluting vehicles to take them off the road. Commercial vehicles that are over 15 years old and personal vehicles that are more than 20 years old will be eligible for scrapping.
