Modi launches vehicle scrappage policy to promote circular economy

The policy, aimed at recycling old and unfit vehicles, will give new identity to India’s mobility and auto sector, Modi said in his address while virtually launching the initiative during ‘Investors Summit’ organised in Gandhinagar. 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 Modernization Programme, an official release said. The policy will give a new identity to India in the mobility and auto sector, Modi said. “This policy will play a major role in removing unfit vehicles from our roads in a scientific manner. It will modernise the vehicular population on our city roads,” he added.

The PM said that India should work for “clean, congestion free and convenient mobility” in the 21st century and exuded confidence that the new policy will help in reducing pollution in our city. The policy will play a key role in the ‘Waste to Wealth’ programme, Modi said. “We are promoting a circular economy. The aim is to make the process of development sustainable and environment-friendly. Apart from reducing pollution, this policy will also make India self-reliant in automobile and metal sectors and also prove beneficial for the common man,” he said. 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.