Union Minister Nitin Gadkari on Thursday said the vehicle scrappage policy will be a 'win-win' situation and will help improve fuel efficiency and reduce pollution. Making a statement in the Lok Sabha, Gadkari said the policy will also lead to an increase in the country's automobile industry turnover to Rs 10 lakh crore from the current Rs 4.5 lakh crore and will also result in increase of about Rs 40,000 crore in GST. The minister said a rebate of about 5 per cent would be offered to buyers on new car purchases in lieu of scrapping of the old. Watch now. (Text: PTI)
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Nitin Gadkari details vehicle scrappage policy; about 5% rebate on new car purchase | Economic Times.
Union Minister Nitin Gadkari on Thursday said the vehicle scrappage policy will be a 'win-win' situation and will help improve fuel efficiency and reduce pollution. Making a statement in the Lok Sabha, Gadkari said the policy will also lead to an increase in the country's automobile industry turnover to Rs 10 lakh crore from the current Rs 4.5 lakh crore and will also result in increase of about Rs 40,000 crore in GST. The minister said a rebate of about 5 per cent would be offered to buyers on new car purchases in lieu of scrapping of the old. Watch now. (Text: PTI)
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Nitin Gadkari details vehicle scrappage policy; about 5% rebate on new car purchase | Economic Times
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The transport ministry has issued draft guidelines for setting up authorised vehicle scrapping facilities, a move that will help legalise the industry in India. The guidelines posted on the ministry's website have been issued for 'protection of the environment and promotion of a legally compliant vehicle dismantling and scrapping industry.' But what does these proposed norms mean for the auto industry and vehicle owners? ET's Nehal Chaliawala has more.
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Watch What India's proposed scrappage policy mean for auto industry, vehicle owners | Economic Times With HD Quality
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Prime Minister Narendra Modi launches vehicle scrappage policy
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