Modifications in Scrappage Policy along with the Country
Our Honourable Prime Minister, Narendra Modi, launched the much-awaited National Automobile Scrappage Policy and stated that the following initiative will help in promoting a circular economy and thus, in turn, will help in making the technique of economic development more endurable and environment friendly. According to the Prime Minister, this policy will give an unique outlook to the automobile sector of the country. Moreover, he said that modernity in mobility helps in reducing the burden that comes with the travel and transportation industry, but it has also proven to be of much help for economic development. The objective of 21st century India is to become a clean and congestion-free country with convenient mobility.
There are certain incentives such as the owners will get 4% value as compared to the ex-showroom price, there will be zero registration fees and the state governments have been asked to make concessions on motor vehicle tax. Also, the manufacturers of the vehicles have been told to provide a 5% discount over the purchase of any new vehicles against the certificate of the deposited one.
The following policy will come into action as the personal vehicles which are older than twenty years will become reregistered from June 1 2024 or once they fail the automated fitness test.
Chandrayee Deb: Chandrayee Deb, currently an Undergraduate student of St. Xavier's University Kolkata. I like keeping myself updated with recent news and write about them. I also love knowing new and interesting facts.