Vehicle Scrapping Policy In India
What are the benefits of Vehicle Scrapping Policy in India?
A vehicle scrapping policy implementation in India will have many positive outcomes:
- First and foremost benefit is cleaner air. As inefficient vehicles will be taken off the roads, the air pollution levels will decrease.
- Vehicle scrapping will ensure removal of old vehicles and an increase in sales of new vehicles in India.
- With the increased sale of new vehicles with advanced safety features, commuting on Indian roads will become a lot safer.
- The government is setting up authorised vehicle scrapping facilities, this will in-turn generate huge employment opportunities in India.
- Vehicle scrapping will be a major breakthrough for the raw and precious metal recycling industry in India.
What will a car owner get in return for scrapping his old vehicle?
One would say that the scrap returns on his or her vehicle will be mere nothing as compared to the actual value as well as the emotional value Here’s what a car owner will get:
- The scrap rate of the vehicle’s metal part at a rate which will be predefined by the policymakers.
- The market rate of the working or usable parts of your vehicle. For e.g., If your vehicle has 4 tyres in good condition, the dealer will sell them in the market. Try to get as much as possible from such parts.
- If a car owner scraps his old vehicle they will stand eligible for tax rebates and a proposed discount of up to 15% on the purchase of a new vehicle.
The Society of Automobile Manufacturing (SIAM) has recommended the government to provide incentives in any possible form to the car owners who decide to scrap their 15-year old vehicle.
