Gadkari on Thursday said the vehicle scrapping policy will be a "win-win" policy that will help improve fuel efficiency and reduce pollution
Plan is to replace use of imported ammonia in farming, petroleum, steel and other sectors; Gadkari bats for all govt vehicles to go electric
Automakers are counting on the plan to boost sales, which have been smashed by a widespread fall in demand
Finance Minister Nirmala Sitharaman on Monday announced the much-awaited voluntary vehicle scrapping policy to phase out old and polluting vehicles
On July 26, 2019, the government proposed amendments to motor vehicle norms to allow scrapping of vehicles older than 15 years in a bid to spur adoption of electrical vehicles
Scrapping policy should consider ownership trend
The Indian ship recycling industry is also facing competition from Bangladesh and Pakistan which are offering more competitive prices for vessels as well as enjoying better domestic steel prices
The proposed policy, once approved, will be applicable on all vehicles including two- and three-wheelers
Tata Motors, Mahindra & Mahindra, Bharat Forge and Ashok Leyland from the Nifty Auto index climbed 3 per cent each on the National Stock Exchange.
OEMs, dealers to aid the collection of old vehicles, recyclable spares through the take-back scheme, or by setting up scrapping centres or through tie-ups with such facilities
The Road Transport and Highways Minister stated that he has cleared a cabinet note on the proposed policy and the finance ministry has also approved the same
A well-implemented policy will not just help boost demand for motor vehicles, but will also help create jobs and alleviate the consumption and demand slowdown across demographics
The scrap units will be set up either by the private sector or as public-private partnerships
Proposed policy aims to scrap heavy vehicles that are more than 15 years old in the first phase