Filter Your Search

  • PRODUCTS
    • Accessories
    • Batteries
    • Body & Exterior parts
    • Brake Parts
    • Chassis & Suspension
    • Drive Transmission & Steering Parts
    • Electrical & Electronic
    • Engine Parts
    • Forgings & castings
    • Garage Equipments
    • Instruments
    • Interior Parts
    • Locks & Switches
    • Oil & Lubricants
    • Powertrain
    • Rubber & Plastic parts
    • Tyres
  • OEM
    • AMW
    • Ashok Leyland
    • Aston Martin
    • Atul Auto
    • Audi
    • Avan Motors India
    • Bajaj Auto
    • Bentley Motors Limited
    • BMW
    • Chrysler
    • Daimler
    • DSK
    • Ducati
    • Eicher
    • Escorts
    • Ferrari
    • Fiat
    • Force Motors
    • Ford
    • General Motors
    • Goenka Electric Motor Vehicles
    • Harley-Davidson
    • Hero Electric
    • Hero MotoCorp
    • Hindustan Motors
    • HMSI
    • Honda
    • Hyundai
    • India Yamaha Motors
    • International Cars & Motors
    • Isuzu Motors
    • Jaguar Land Rover
    • JBM Group
    • JCB India
    • John Deere
    • Kawasaki
    • Kia Motors
    • Kinetic
    • KTM
    • Lamborghini
    • Lexus India
    • Lohia Auto
    • Mahindra
    • MAN Trucks India
    • Maruti
    • Maserati
    • Mazda
    • Mercedes-Benz
    • MG Motor
    • Mitsubishi
    • Nebula Automotive
    • New Holland
    • Nissan Motor India
    • Okinawa
    • Olectra- BYD
    • Piaggio
    • Polaris
    • Porsche
    • Premier
    • PSA Peugeot Citroen
    • Renault India Pvt Ltd
    • Rolls-Royce
    • Royal Enfield
    • Scania
    • Skoda
    • Sonalika
    • Suzuki Motorcycle
    • TAFE
    • Tata
    • Toyota
    • Triumph Motorcycles India
    • TVS
    • Twenty Two Motors
    • UM Lohia Two Wheelers Pvt Ltd
    • UM Motorcycles
    • VECV
    • Volkswagen
    • Volvo
    • Volvo Group India Pvt Ltd
  • NEWS
    • Associations and Bodies
    • Awards & Inaugurations
    • Commercial Vehicles
    • Conferences & conventions
    • Corporate Profiles
    • Dealer Meets
    • Electric & Hybrid vehicles
    • Exhibitions
    • Financial Results
    • M & A and Collaborations
    • Management Changes
    • Milestones
    • Miscellaneous News
    • New Launches
    • Policy & Economy
    • Races & Rallies
    • Retail Sales & Services
    • Surveys & Reports
    • Two & Three Wheelers
Archives

Incentive key to success of veh. scrapping policy

10/09/2019 | Author: Autoguide | 0 Comments Back To Home   < Previous News   |   Next news >

Vehicle scrapping policy

The Centre's vehicle scrapping policy hinges on how much ‘discount’ or ‘incentive’ that both the Government and automobile manufacturers can offer to those buying new vehicles after scraping the old ones, according a TNN report.
 
While the automobile industry has suggested to the Government that financial incentive should come from it to accelerate the plan to phase out polluting commercial vehicles that are more than 15 years, the Government wants the industry to offer some discount to new buyers as it would boost their sales. It will be mandatory for buyers to produce the scrapping certificate to avail of any discount.
 
Union Finance Minister Mrs Nirmala Sitharaman last month announced that the Government will come out with the vehicle scrapping policy soon as a part of the overall intervention to check the slump in automobile sale. The Government has decided to go for voluntary scrapping rather than making it mandatory for people to dump their old vehicles.
 
Sources quoted in the TNN report said several suggestions including the option to offer discount in income tax to those who scrap their old vehicles was discussed at a meeting called by the NITI Aayog. It was attended by representatives from Heavy Industries, Road Transport and Steel ministries besides top functionaries from NITI Aayog. 
 
It remains to be seen whether the Government will announce any cash incentive to those joining the scraping policy.
 

Move To Top  < Previous News   |   Next news >

 

Leave a Comment


Not readable? Change text.

Comments