Vehicle scrappage policy will play a big role in the modernisation of the vehicular population in the country, removing unfit vehicles from the roads in a scientific manner, said Prime Minister Narendra Modi on Friday while addressing the Investor Summit in Gujarat via video conference,
He added, “Vehicle Scrappage Policy will play a big role in the modernization of the vehicular population in the country, removing unfit vehicles from the roads in a scientific manner.”
Here are 10 things that you need to know about India’s new vehicle scrappage policy:
1. The policy plans at bringing over Rs 10,000 crores fresh investment and will generate thousands of jobs.
2. This new vehicle scrappage policy will follow the principle of reuse, recycle, and recovery and will also promote the auto sector and in the metal sector of the nation.
3. The vehicles will be scrapped after the automated and authorised testing is done scientifically.
4. Those who are scrapping their old vehicle will get a certificate and will not have to pay for the registration of a new vehicle.
5. The policy will give a new identity to India’s mobility and auto sector, as it will create a circular economy, ie; durability, reuse, and recyclability.
6. The new policy will also save money used in the maintenance, repair, and fuel efficiency of the old vehicles.
7. The policy will also reduce the pollution in the cities.
8. The policy will also encourage start-ups for ‘Waste to Wealth’ initiatives.
9. Alang, Gujarat might become the hub of vehicle scrapping.
10. The policy will also reduce India’s dependence on scrap steel, imported from foreign nations.