PM Narendra Modi launched the Vehicle Scrappage Policy in India on Friday, 13 August, at the Gujarat Investor Summit and requested youths and start-ups to be part of the programme.
Highlights:
Personal vehicles older than 20 years and business automobiles older than 15 years will have to bear a Health test at government registered automated fitness centres.
Vehicles that fail to omit the test will be declared as end-of-life vehicles that means that they would have to be recycled. Thus, paving the way for older motors to be scrapped.
In case, the automobiles ignore the test, the proprietors will have to pay a hefty rate for re-registration that would be hiked to around eight instances for non-public vehicles, and around 20 times for commercial vehicles.
The coverage is a waste-to-wealth mission and an important phase of the round financial system that will reduce pollution in our cities and additionally replicate the governments dedication toward speedy development.
The policy will additionally convey investments worth extra than Rs 10,000 crore and, in the process, create EMPLOYMENT possibilities for lots of youngsters.