Vehicle Scrappage Policy: 15-year-old vehicles to be phased out, government issues draft notification

Vehicle Scrappage policy: The government's order to scrap 15-year-old vehicles from April next year will give impetus to auto and steel industry. A draft notification regarding scrapping of over 15-year-old vehicles has been issued, Zee Business' Ambarish Pandey reports.

According to the report, all the central and state governments vehicles that have completed 15 years will be scrapped from April 1, 2023. The new rule will also be mandatory for the buses and vehicles of the state corporations and transport departments.

The Union Road Transport and Highways Ministry has sought suggestions and objections regarding this in the next 30 days. "Objections and suggestions to these draft rules, if any, may be sent to the Additional Secretary (MVL, Transport & Toll), Ministry of Road Transport and Highways, Transport Bhawan, Parliament Street, New Delhi-110 001 or on the email: comments-morth@gov.in," the official notification said.

#Auto और #Steel इंडस्ट्री के लिए खबर

1 अप्रैल, 2023 से खत्म होंगी 15 साल पुरानी गाड़ियां

सड़क परिवहन मंत्रालय ने जारी किया ड्राफ्ट नोटीफिकेशन

जानिए पूरी खबर अंबरीष पांडे से

देखिए #ZeeBusiness LIVE यहांhttps://t.co/OXmC2SBQRy#ScrappagePolicy | @pandeyambarish pic.twitter.com/27ybeIZ0y4

— Zee Business (@ZeeBusiness) November 27, 2022

Vehicle scrappage policy was introduced in the year 2021. According to the report, this policy will benefit the industry in three ways. Firstly, it will help in reducing emission from worn-down vehicles. Secondly, the auto industry will receive impetus, as the need to replace old vehicles with new will increase demand. And thirdly, cheaper raw materials for the steel industry will be available from scrap material. These steps will go a long way in promoting circular economy.

Also Read: Hero MotoCorp to hike two-wheeler prices by up to Rs 1,500 from December 1

Regarding this, Union Minister Nitin Gadkari had said on Friday that all vehicles of the Government of India more than 15 years old will be converted into junk and the policy related to this has been sent to the states. Gadkari said this on the occasion of the inauguration of the annual agricultural exhibition 'Agro-Vision'.

"Yesterday, I signed a file under the guidance of Prime Minister Narendra Modi that all the vehicles of the Indian government which have completed 15 years will be scrapped. I have sent this policy of the Indian government to all the states. They should adopt this policy at the state level," he said.