Prime Minister Narendra Modi open up the Vehicle Scrappage Policy on . All you need to know about the regulation and benefits of the scrappage policy.
Policy will help point out unsuitable and polluting vehicles in an environment-friendly manner. vehicles will not just be scrapped by their age but also if they are equipment to be unfit in automated testing.
Vehicle scrapping will help point out unfit and polluting vehicles in an environment-friendly manner. Our aim is to create a workable globular system and bring value for all neutral while being environmentally responsible,” PM Modi said.
WHAT IS VEHICLE SCRAPPAGE POLICY?
As the name suggest, the policy will help in form out old, unfit vehicles. The scrappage policy will come into consequence instantly after the registration period of a vehicle is over, then it should face a fitness test which is mandatory.as per motor vehicle law of India. A personal or passenger vehicle have a life duration of 15 years and commercial vehicle have a lifespan of a decennary. Vehicle running on the road beyond lifespan is considered as environment polluting vehicles. This types of vehicle also consumes a large amount of fuel as compare to new vehicle. This policy will help individual to dump There old vehicles and take advantages of new offer governed by government.
AIM of Scrappage policy?
The main aim of vehicle scrappage policy is to reduce the environmental pollution by recycling of old vehicles. Recycling old vehicles will help in reusing materials like steel, plastic and copper. This will help in reducing the cost of manufacturing and also decreases the pollution of the environment.it also boost the sales of new car, given the bonus offered for buying a new car.
Not all the vehicle will scrapped. Vehicle run beyond 15 year in case of personal vehicle 10 year in case of commercial vehicle. After completion of time limit. Vehicle is undergo a mandatory fitness test. If it is passes in this test. it will not get a renewal certificate and will not be able to run on roads. If a vehicle pass the fitness test, it will get a renewal certificate. But this certificate is issued only for 5 year. After this vehicle undergo a fitness test inn every five year.
Benefits of scrapping.
Proprietors who scrap their old vehicle and plan to purchase new one will get motivations as a component of the Vehicle Scrappage Policy.
Owners who scrap their old vehicle and plan to buy a new one will get bonus as part of the Vehicle Scrappage Policy. A worth of the ex-showroom area cost of the old vehicle, going from 4% to 6 percent, will be given to the owner when they decide to scrap the vehicle. A discount of up to 25 percent of street expense will be given to an individual when he purchases another individual vehicle subsequent to rejecting an old one; the refund will be up to 15 percent for commerce vehicles. Also, vehicle makers have been encouraged to give a 5 percent markdown on new vehicle buys to people who produce a rejecting endorsement and a waiver on the enrollment expense.
