PM Modi unveils National Vehicle Scrappage Policy
Prime Minister Narendra Modi has launched the National Vehicle Scrappage Policy, stating it will help phase out unfit and polluting vehicles.
The policy was unveiled during a video address to the Investor Summit in Gujarat under the Voluntary Vehicle-Fleet Modernization Programme.
The policy aims at establishing an ecosystem for phasing out unfit and polluting vehicles in an environmentally friendly and safe manner and establish scrapping infrastructure in the form of Automated Testing Stations and Registered Vehicle Scrapping Facilities across the country.
The vehicle scrappage policy will attract investments of around Rs. 10,000 crore, he said.
"Vehicle scrapping will help phase out unfit and polluting vehicles in an environment-friendly manner," Mr. Modi said.
Vehicles will not just be scrapped by their age, but also if they are found to be unfit in automated testing, he said.
"This policy will deeply benefit our middle class," he said.
A certificate will be provided on the scrappage of old cars. It will safeguard that these people get discount on buying new cars and benefit on taxes, he added.
"We are encouraging a circular economy. The aim is to develop a sustainable and environment-friendly economy," Mr. Modi said.
Modernity in mobility not only eases the burden of travel and transportation but also proves helpful for economic development, he said.