PM Modi launches vehicle scrappage policy, know how you will benefit from it

On Friday, Prime Minister Narendra Modi launched the vehicle scrappage policy. Prime Minister took to Twitter and said that the launch of the scrappage policy is a significant milestone in India's development journey and urges the youth of the country and also the start-ups to join the programme.

"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 programme," PM Modi said.

Launching National Automobile Scrappage Policy #CircularEconomy https://t.co/JL7EAZ5BNL

— Narendra Modi (@narendramodi) August 13, 2021

He further said that the vehicle scrapping will help to 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.

What PM Modi said about scrappage policy

Prime Minister Narendra Modi described it as a 'waste-to-wealth mission'.

The scrappage policy will provide a new identity to the country's auto sector.

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.

The Central government has taken this step as the country needs clean, congestion-free and convenient mobility.

The Prime Minister further remarked that the policy is an important part of the circular economy.

It will reduce pollution from cities and also reflects the government's commitment towards rapid development.

It will bring investments worth more than Rs 10,000 crore and in the process create employment opportunities for youngsters.

5 ways policy will benefit the common man

A certificate will be given on the scrapping of the old car, which will ensure that an individual does not have to pay registration fees while buying a new car.

Vehicle owners might receive tax benefits as an incentive to scrap an old vehicle, including a discount on road tax.

A person will save money on the maintenance cost, repair cost and fuel efficiency of the old car.

Vehicle owners might also get the best price for car scrappage for workable parts such as tyres.

New advanced vehicles will be comparatively safer. For example, new cars come with superior safety features.