The government of India recently approved the Vehicle Scrappage Policy for the Indian automobile industry. In a boost to get rid of pollution-causing vehicles on the road and boost the auto industry, the Ministry of Road Transport and Highways announced that the private vehicles older than 20 years must undergo a fitness test to establish that they are in a condition not to cause pollution to the environment. The age of the commercial vehicles is decided to be 15 years. In order to make it easily adaptable, the government needed to incentivise it in some form. That is exactly what the government has done now. Let us take a look in detail at the offers put forth by the government to promote the vehicle scrappage policy.
Also read: Vehicle Scrappage Policy will create more jobs!
Vehicle Scrappage Policy – Incentives for the customers
The car owners can only voluntarily go for vehicle scrappage if there is some incentive involved. Recognizing the need for this, the government…