On sunday, Nitin Gadkari announced about the new vehicle scrapping policy. He said that if anyone would scrap his/her old vehicle then he/she can get 5% rebate on new vehicle from the automobile company.
Finance minister Nirmala Sitharaman has announced the new voluntary scrapping policy in the union budget of 2020-21. So, it is the good news for them who wants to sell old vehicle and purchase new one.
As per this policy, personal vehicles would required to pass the fitness test after 10 years and 15 years for the commercial vehicles. The vehicles which will not pass the test will be penalized with the heavy fines and also be impounded.
The automated fitness test centres will be set up under the PPP mode and the government will regulate the private partners and state governments for scrapping centres.
The government took this step for the growth and expansion of automobile sectors as well as for the protection of environment.
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