PM Modi launches vehicle scrappage policy, here's why it matters to you

Prime Minister Narendra Modi on Friday launched vehicle scrappage policy at the Investor Summit in Gujarat via video conferencing.  The summit is aimed at getting investment relating to setting up vehicle scrapping infrastructure. He said that the policy will bring a significant change in India’s growth story. This policy will bring out a positive change to every citizen, industry, and sector in India, PM Modi added. He also tweeted about the launch and urged youth and start-ups to join this programme.

Benefit middle class

“This policy will deeply benefit our middle class,” Modi said. The people will get a certificate on the scrappage of old cars. It will ensure that they get a discount on buying new cars and some exemption on road taxes. It will also save a good amount on the maintenance cost, repair cost, and fuel efficiency of old cars. The most important benefit among all is the life risk that is posed by old technology vehicles will also be reduced, Modi added.

“The launch of Vehicle Scrappage Policy today is a significant milestone in India’s development journey. The Investor Summit in Gujarat for setting up vehicle scrapping infrastructure opens a new range of possibilities. I would request our youth and start-ups to join this programme,” tweeted PM Modi.

He further said that the vehicle scrapping will help to phase out unfit and polluting vehicles in an environment-friendly manner.

Modernised mobility for economic growth

Mobility is a crucial factor in India’s economic growth. 21st century India needs to switch to clean, congestion-free and convenient mobility, Modi said. The role of industry stakeholders is very important in achieving the government’s goal. The vehicle scrappage policy will bring in investments of around Rs 10,000 crore and thousands of jobs, Modi said.

Environment-friendly policy

The Vehicle Scrapping Policy is aimed at creating an eco-system for phasing out unfit and polluting vehicles in an environmentally friendly and safe manner. The policy intends to create scrapping infrastructure in the form of Automated Testing Stations and Registered Vehicle Scrapping Facilities across the country. The Investors Summit is being organized to invite investment for setting up vehicle scrapping infrastructure under the Voluntary Vehicle-Fleet Modernization Program or the Vehicle Scrapping Policy. It is an important link in achieving India’s waste-to-wealth mission.