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Scrappage policy to give a new identity to auto sector: PM Modi

Scrappage policy to give a new identity to auto sector: PM Modi


Scrappage policy to give a new identity to auto sector: PM Modi

Prime Minister Narendra Modi on Friday launched the national vehicle scrappage policy and described the move as a significant milestone in India’s development journey.

Addressing an Investor Summit in Gujarat via video conferencing, the prime minister  said that this policy is going to give a new identity to the auto sector and to the mobility of New India

“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,” he added.

Vehicles will not just be scrapped by their age, but also if they are found to be unfit in automated testing, he further added.

Here are the major highlights of PM Modi’s speech:

1) 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

2) The Policy will bring in a fresh investment of more than Rs 10 thousand crores and will create thousands of jobs

3) The goal of Clean, Congestion Free and Convenient Mobility, is the need of the hour for 21st century India

4) New scrapping policy is an important link in the circular economy of Waste to Wealth

5) People with scraping certificate of the old vehicle will not have to pay any money for registration on the purchase of a new vehicle, some exemption in road tax too:

6) It is our effort to reduce dependence on imports with regard to the value chain of auto manufacturing

7) Active industry participation is needed in ethanol, hydrogen fuel, electric mobility, R&D and infrastructure.

“Our aim is to create a viable circular economy and bring value for all stakeholders while being environmentally responsible, ” said the Prime Minister in a series of tweets before the event.

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