Govt plans 3 vehicle scrapping facilities in every district: Nitin Gadkari

Union Road Transport and Highways Minister Nitin Gadkari on Wednesday announced plans of having at least three registered vehicle scrapping facilities in every district across the country.
Addressing the annual session of Automotive Component Manufacturers Association of India (ACMA), Gadkari said the road ministry has received 206 proposals for ropeway, cable car and funicular railway.
"In every district, we can open 3 registered vehicle scrapping facilities," he said. Prime Minister Narendra Modi had launched the National Vehicle Scrappage Policy in August last year and had said it will help phase out unfit and polluting vehicles and also promote a circular economy.
Under the new policy, the Centre had said the states and Union Territories (UTs) will provide up to 25 per cent tax rebate on road tax for vehicles that are purchased after scrapping old vehicles.
The vehicle scrappage policy has come into effect from April 1, 2022.
Announced in the Union Budget 2021-22, the policy provides for fitness tests after 20 years for personal vehicles, while commercial vehicles will require it after the completion of 15 years.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES

Dearness Allowance (DA) Calculations: Is your basic monthly salary Rs 25,500, Rs 35,400, or Rs 53,100? Know how much DA will you get at different rates

Power of Compounding: How long it will take to build Rs 8 crore corpus with Rs 7,000, Rs 11,000 and Rs 16,000 monthly investments

Income Tax Calculations: What will be your tax liability if your salary is Rs 8 lakh, Rs 14 lakh, Rs 20 lakh, and Rs 26 lakh?

Monthly Pension Calculations: Is your basic pension Rs 25,000, Rs 35,000, or Rs 50,000? Know what can be your total pension as per latest DR rates
09:15 PM IST