Surrender 10 Year Old Vehicles and Get Upto 1.5 Lakh Incentives

The government is recently working on a policy that if you dump 10 year old vehicles in exchange of a new one, then the government would provide over 1.5 lakh incentives to the individuals.

If the policy gets all the approvals, then it would cut the problem of pollution and give a boost to the automotive industry.

Nitin Gadkari (minister for transport, roads and highways) says that this step would considerably help in easing traffic and checking pollution.

surrendering over 10-year old vehicles

India stands at the third position in the world for emitting greenhouse gases.

The minister said that the government is introducing such a scheme that if anyone sells his old vehicle, then he will get a certificate. At the time of new purchase, if this certificate will be produced by the individual, then he would get a discount of nearly Rs 50,000. The discount would be up to Rs 30,000, for small vehicles like car.

For those surrendering the old heavy vehicles, the government may also offer tax exemptions. For vehicles like trucks, this may reach up to Rs 1.5 lakh.

In various developed nations, junking the old vehicles is basically a norm and thus, it may help the polluted cities in India to become a better place to live in. The National Green Tribunal ordered to ban the diesel vehicles, which are older than 10 years.

The auto industry has been demanding to offer rebate on excise duty to those who dump their old vehicles to buy a new one. The new vehicles are generally less-polluting and more fuel-efficient. This step will help reduce pollution and boost the sales of new vehicles.

The minister said that the government is planning to establish almost 8-10 industrial units near ports like Kandla. This will recycle the vehicles from India and abroad and give certificates for accepting the old vehicles.

The minister urged the auto manufacturers for building Euro VI-compliant vehicles as soon as possible, because pollution is definitely a big concern for India.

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