Vehicle Scrappage Policy benefit Indian economy
Vehicle Scrappage Policy benefit Indian economy How Vehicle Scrappage Policy will benefit Indian economy and development? On Friday, PM Narender Modi virtually launched this policy which will phase out unfit and polluting vehicles. PM said that this policy will open up new possibilities. He requested youth and startups to join this program. Vehicle Scrappage Policy is a milestone in India’s development journey and it will bring in investment of approximately Rupees 10,000 crore. PM said that old and polluting vehicles will be disposed in a scientific manner. Vehicles will not only be scrapped by their age but also if they are found to be unfit in automated testing. ” This policy will deeply benefit the middle class”, PM Modi said.
A certificate will be issued on the scrapping of old cars which will ensure that these people get discounts on buying new cars and benefit from taxes. Modernity in mobility not only reduces the burden of travel and transportation but is also beneficial for economic development. PM said that circular economy, sustainable and environment-friendly development will be promoted through this policy.