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Earlier this month, road transport and highways minister Nitin Gadkari said that the much-awaited vehicle scrappage policy will be declared within a month. The policy will state the age limit of commercial vehicles.
In 2016, the road transport and highways ministry had released the first draft of the policy, proposing a life of 15 years for commercial vehicles. A committee of secretaries set up to work out the details of the policy decided that it should be made mandatory for 20-year-old vehicles.
At the 60th annual session of Automotive Component Manufacturers Association of India, Gadkari said, “The vehicle scrapping policy is very important for the revival of the auto industry. I assure you that the scrappage policy is in its last stages of approval and it will come within a month. It may even come within this month-end.”
In context to the delay in declaring the policy, the minister added, “We will clear this policy with the approval of the highest authorities and we will definitely open up this policy, which can be a win-win for Indian manufacturers.”
The new policy will entail fleet owners to scrap their old trucks in return for incentives which will reduce the cost of new vehicles by almost 15%.
According to a report, there are approximately 7 lakh commercial vehicles registered before 2000 (more than 20 years old) that are currently on the roads. These vehicles will be considered eligible for the incentives and scrapping after the introduction of this policy.
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