Waste-to-wealth mission! PM Modi launches vehicle scrappage policy
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Delhi, August 13: During the Investor Summit, Prime Minister Narendra Modi launched a Nation Automobile Scrappage Policy saying it is a significant milestone in India's development journey.
The new policy is introduced to phase out unfit and polluting vehicles in an environment-friendly manner. While launching the policy, PM Modi urges the youth of the country and also the start-ups to join the program.
"The launch of Vehicle Scrappage Policy today is a significant milestone in India's development journey. The Investor Summit in Gujarat for setting up vehicle scrapping infrastructure opens a new range of possibilities. I would request our youth and start-ups to join this program," PM Modi said.
He added that this step will help phase out unfit and polluting vehicles in an environment-friendly manner. The policy is expected to reduce pollution, create job opportunities and boost demand for new vehicles.
The new scrapping policy is an essential link in the circular economy and the waste to wealth campaign and would bring in new investments of more than Rs ten thousand crores and create thousands of jobs.
It will play a huge role in removing unfit vehicles from roads and bring a positive change in all sectors and not just the auto sector. It will reduce pollution from cities and also reflects the government's commitment towards rapid development.
Under the Vehicle Scrappage Policy, the first advantage will be that a certificate will be given on scrapping the old vehicle. Whoever has this certificate will not have to pay any money for registration on purchasing a new vehicle. Along with this, he will also be given some exemption in road tax.
It also benefits the general public as the old vehicle's maintenance and repair costs will also be saved.
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