Union Road Transport and Highways Minister Nitin Gadkari shared another information related to the Scrappage Policy yesterday. Under this policy, those who buy new vehicles will be exempted. Explain that, Finance Minister Nirmala Sitharaman had proposed to implement this new policy in the country during the presentation of Union Budget last month.
In fact, the government believes that this new scraping policy will help curb pollution. At the same time, automakers are hoping that this will increase the sales of new vehicles. But before the implementation of this new policy, it is very important for all vehicle owners to know the 5 special things related to it. So let’s know about those 5 points-
Must read: Answer to every question related to Scrappage Policy
Discounts will be available for buying new vehicles: Vehicle owners who opt for the upcoming scarp scheme to get rid of their old vehicles, will be eligible for the benefit while purchasing a new vehicle under this policy. Union Minister Nitin Gadkari recently said that consumers who will send their old vehicle in scrap and buy a new vehicle under this policy will get about 5 percent discount from auto companies on new purchases.
How to get discount: Although the Union Minister has announced a 5 percent exemption for older vehicles, it is not yet clear what factors will determine the discount rate for older vehicles. It is believed that the age and condition of the old vehicle may be considered as a factor in determining the discount rate. Because the government has made it clear that under this policy, older vehicles will not be allowed to run on the road for a fixed time, for this they will have to undergo a fitness test. At present, other specifics related to this scheme are expected to be clear in the coming days.
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What is Scrapage Policy: Under this scraping policy, vehicles running in the country will have to undergo a fitness test as per schedule. According to this, personal vehicles will have to undergo fitness test after 20 years and commercial vehicles after 15 years. The fitness test of the old vehicles will be done in the automated centers, which will be constructed by the government soon. These centers will have a fitness test of vehicles where they will be given a certificate.
Will leave the road or feel fine: Under this policy, if any vehicle fails to pass this automated test, it will not be allowed to drive on the roads or the vehicle owner may face heavy fines. Apart from this, if your vehicle has completed the age stated in the policy and fails in the test, it can also be seized when caught driving on the road. However, no official announcement has been made about this yet.
Will have to pay Green Tax: If your private vehicle is older than 8 years, it passes the fitness test and this policy is applicable, then in that case you will have to submit green tax. Under this scheme, green tax can be levied on transport vehicles older than eight years at the rate of 10 to 25 percent of the road tax at the time of the renewal of the fitness certificate. However, this proposal has been sent to the states for consultation after approval from the Ministry.
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