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Scrappage policy in last lap

29/01/2020 | Author: Autoguide | 0 Comments Back To Home   < Previous News   |   Next news >

The vehicle scrappage policy

The vehicle scrappage policy, which is awaiting its final clearance from the Union cabinet, would focus on eliminating the fleet of old polluting commercial vehicles plying on the country’s roads, said a senior Government official.
 
“The policy has been finalised and we are waiting for the Cabinet’s approval, which is expected soon," said another official, according to a national daily report. 
 
He said the proposed policy would seek to revive the ailing commercial vehicle industry — a key barometer of economic activity and freight movement. “The idea is to take old, polluting ones off the roads as they are major contributors towards pollution”, he added.
 
The policy would entail a manifold increase in the renewal of registration fees of vehicles older than 15 years to discourage the use of older polluting vehicles, including passenger vehicles, the official said.
 
The proposed policy is seen as an attempt by the Government to boost automobile demand, which has been hit by weak consumer demand amid a slowdown in the broader economy. This economic slowdown has forced several companies to shut factories, lay off contract workers and offer hefty discounts to clear inventory.
 

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