India is soon set to come out with a policy to scrap vehicles that are more than 15 years old. The policy aims to curb rising vehicular pollution in the country. "We have almost finalised the scrapping policy for vehicles with NITI Aayog," said the Road and Transport Minister. Vehicles completing 15 years or more would be scrapped, the minister said without giving more details.
India is bound to become the hub for the automobile industry and the prices were bound to be cheaper as scrap could be used for the production of auto parts among other things. "Raw material for vehicles will be cheap ... plastic, rubber, aluminium and copper - all generated from scrap will be used for auto parts generation besides other things," the minister said.
Earlier, the Road, Transport and Highways Ministry had sent a concept note on Voluntary Vehicle Fleet Modernisation Programme (V-VMP) to the Committee of Secretaries on creating an ecosystem for voluntary scrapping and replacement of old polluting vehicles. The draft Voluntary Vehicle Fleet Modernisation Programme (V-VMP) policy has proposed to bring under its purview vehicles bought on or before March 31, 2005. Once the proposal is accepted it is bound to result in Rs 10,000 crore boost in tax revenue as the automobile sector will benefit from it.
Article Source : TimesOfIndia