Scrappage Policy india

Vehicle scrappage policy in India – All you need to know

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The proposed vehicle scrappage policy is aimed to create new demand stimulus in the auto sector which has been facing one of the worst slowdowns.

  • Vehicle Scrappage Policy announced in the union budget 2021
  • Scheme will apply to 20 years old private vehicles and 15 year old commercial vehicles. 
  • Details of the scheme will be outlined by the Ministry of Road Transport and Highways. 
  • The policy will look to phase out older, inefficient and polluting vehicles and in turn promote the use of more environment-friendly vehicles.
  • The policy is expect to provide incentives for vehicles owners on there new purchases.
  •  The policy is likely to be brought into effect from 1st April 2021
  • The new policy aim to boost automobile industry

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