<p>Prime Minister Narendra Modi on Friday launched the National Automobile Scrappage Policy, aimed at junking old vehicles.</p>.<p>Virtually launching the policy initiative during the Investors Summit' organised by Gujarat Government in Gandhinagar, Modi said the policy will promote a circular economy and make the process of economic development more environment-friendly.</p>.<p>The policy, aimed at recycling old and unfit vehicles, will give new identity to India's mobility and auto sector, Modi said.</p>.<p>The summit, which saw participation of potential investors and industry players, was organised to attract investment for setting up vehicle scrapping infrastructure under the Voluntary Vehicle-Fleet Modernisation Programme, an official release said.</p>.<p><strong>Read | <a href="https://www.deccanherald.com/business/auto-scrappage-policy-will-boost-vehicle-sales-create-jobs-nitin-gadkari-1019398.html" target="_blank">Auto scrappage policy will boost vehicle sales, create jobs: Nitin Gadkari</a></strong></p>.<p>Under this policy, people who give their old vehicle for turning it into scrap will be given a certificate by the government. People having this certificate will not be charged any registration fee on the purchase of a new vehicle, said Modi, adding that such vehicle owners will also be entitled for some rebate on road tax.</p>.<p>Highlighting a key feature of the policy, Modi said that instead of the age of the vehicle, a fitness test will determine if the vehicle will be sent for scrapping. The policy would attract an investment of Rs 10,000 crore and create thousands of employment opportunities, he said.</p>.<p>"We imported scrap steel worth Rs 23,000 crore last year because recovery of metals in our country is not enough. With this policy, we can now recover even rare earth metals in a scientific manner, he said. The PM stressed on developing Alang in Bhavnagar, which is a hub for ship recycling, into a vehicle recycling hub.</p>.<p>During the Summit, seven MoUs were also signed for setting up scrappage infrastructure in Gujarat and Assam. As per the figures shared by Union Road Transport Ministry, around one crore unfit vehicles which can be recycled immediately in the country, around four lakh are in Gujarat.</p>.<p>The policy recommends “fitness tests” for private and commercial vehicles that are more than 20 and 15 years old respectively. In the absence of a “fitness certificate,” registration of such vehicles will be automatically cancelled.</p>
<p>Prime Minister Narendra Modi on Friday launched the National Automobile Scrappage Policy, aimed at junking old vehicles.</p>.<p>Virtually launching the policy initiative during the Investors Summit' organised by Gujarat Government in Gandhinagar, Modi said the policy will promote a circular economy and make the process of economic development more environment-friendly.</p>.<p>The policy, aimed at recycling old and unfit vehicles, will give new identity to India's mobility and auto sector, Modi said.</p>.<p>The summit, which saw participation of potential investors and industry players, was organised to attract investment for setting up vehicle scrapping infrastructure under the Voluntary Vehicle-Fleet Modernisation Programme, an official release said.</p>.<p><strong>Read | <a href="https://www.deccanherald.com/business/auto-scrappage-policy-will-boost-vehicle-sales-create-jobs-nitin-gadkari-1019398.html" target="_blank">Auto scrappage policy will boost vehicle sales, create jobs: Nitin Gadkari</a></strong></p>.<p>Under this policy, people who give their old vehicle for turning it into scrap will be given a certificate by the government. People having this certificate will not be charged any registration fee on the purchase of a new vehicle, said Modi, adding that such vehicle owners will also be entitled for some rebate on road tax.</p>.<p>Highlighting a key feature of the policy, Modi said that instead of the age of the vehicle, a fitness test will determine if the vehicle will be sent for scrapping. The policy would attract an investment of Rs 10,000 crore and create thousands of employment opportunities, he said.</p>.<p>"We imported scrap steel worth Rs 23,000 crore last year because recovery of metals in our country is not enough. With this policy, we can now recover even rare earth metals in a scientific manner, he said. The PM stressed on developing Alang in Bhavnagar, which is a hub for ship recycling, into a vehicle recycling hub.</p>.<p>During the Summit, seven MoUs were also signed for setting up scrappage infrastructure in Gujarat and Assam. As per the figures shared by Union Road Transport Ministry, around one crore unfit vehicles which can be recycled immediately in the country, around four lakh are in Gujarat.</p>.<p>The policy recommends “fitness tests” for private and commercial vehicles that are more than 20 and 15 years old respectively. In the absence of a “fitness certificate,” registration of such vehicles will be automatically cancelled.</p>
