(Video) Rajya Sabha TV (RSTV) The Big Picture: Vehicle Scrappage Policy

(Video) Rajya Sabha TV (RSTV) The Big Picture: Vehicle Scrappage Policy

Topic: Vehicle Scrappage Policy

Guest:

  • Amit Varadan, (Joint Secretary, Ministry of Road Transport & Highways)
  • Arun Malhotra, (Auto Industry Expert)

Topic Description:

Union Transport Minister Nitin Gadkari announced the much awaited vehicle scrappage policy on Thursday. Speaking in Lok Sabha, he said the policy aims to keep old polluting vehicles from plying on roads. He highlighted that there are 51 lakh vehicles in India which are older than 20 years, 34 lakh vehicles which are more than 15 years old and around 17 lakh vehicles older than 15 years, but do not have vehicle fitness certificates. He said, old vehicles pollute air 10-12 times more compared to vehicles that are fit, and also pose a risk for road safety. Now, with this policy being announced, commercial and private vehicles will be de-registered after 15 and 20 years respectively and their re-registration will be discouraged. Owners of old vehicles will get strong incentives to scrap old and unfit vehicles. Further, the new vehicle scrappage policy will be a win-win proposal for the auto industry. According to Nitin Gadkari, scrapping old vehicles will lead to increased demands for newer vehicles, which will boost the auto sector. And the move will also both the Centre and states to garner more GST. The policy is likely to come into effect later this year.

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Courtesy: RSTV