Chandigarh is ready to get its first dedicated vehicle scrap policy by Country Vehicle scrap policy. This facility will be located in Phase 1 of the Industrial Park and is expected to come into operation from April 1 next year.
According to a report in the Hindustan Times, those with old and polluting vehicles can opt for discarded vehicles and expect special incentives afterwards. “According to the policy, beneficiaries will receive a reduced Motor Vehicle Tax on the purchase of a new vehicle upon submission of a deposit certificate, which will be issued by a registered vehicle scrap facility (RVSF). ) when the person consigns the vehicle. ” an official from the State Transportation Authority was quoted as saying in the same report.
This policy allows up to 25% off for non-transport vehicles while up to 15% off for transport vehicles. The incentives offered to those using this policy are a 25% reduction in road tax if they choose to purchase a vehicle later.
The domestic vehicle scrap policy aims to remove old and/or polluting vehicles from city roads and highways. This could have a positive effect on reducing vehicle emissions while also potentially driving demand for newer vehicles.
Prime Minister Narendra Modi launched India’s Scrap Vehicle Policy last August. The policy will require personal vehicles to undergo a performance test at automated centers after 20 years, while commercial vehicles will undergo a test after 15 years.
According to a notice issued by the ministry, vehicle owners over the age of 15 will have to pay eight times more to renew their registration. Policy fixed $5,000 is the renewal fee for cars older than 15 years. Similarly, the registration renewal fee for a 15-year-old bicycle will cost $1,000 from the current fee of $300.
First published date: December 8, 2022, 15:27 pm IST
