Gandhinagar: Prime Minister Narendra Modi on Friday launched the National Automobile Scrappage Policy.
He said this step will promote a circular economy and make the process of economic development more sustainable and environmentally friendly.
The policy, which is intended for recycling contaminating and inappropriate vehicles, will provide fresh encouragement to the mobility and the Indian car sector, Modi said while handling the virtual initiative launch during the ‘investor summit’ held in Gandhinagar.
“We promote a circular economy.
In addition to reducing pollution, this policy will also make India Mandiri in the car and metal sector.
We import Scrap Steel worth RS 23,000 Crore last year due to metal recovery in our country is not enough.
With this policy, we can now recover Land metals are rarely scientifically scientific, “Modi said.
This policy will attract an investment of Rs 10,000 Crore and create thousands of job opportunities, PM added.
Fitness-based policy, not the age of vehicles’Data distributed by the Union Transport Ministry revealed that an estimated 1 crore of unworthy vehicles can be recycled in India.
Of the number of India, 4 lakh was in Gujarat.
The summit, was attended by prospective investors and industrial players, organized to attract investment to regulate vehicle cutting infrastructure under the modernization of voluntary vehicle fleet modernization.
The policy will provide a new identity to India in the mobility and automotive sector, said Modi.
“This will play a major role in removing unworthy vehicles from our path in a scientific way.
This will modernize the population of the vehicle on the streets of the city,” he added.
The policy will play a key role in the ‘Waste to Waste’ program, said Modi.
CM Vijay Rupani and Union Road Transp Minister of Ort and Highways Nitin Gadkari are present at the event in Gandhinagar.
Gadkari said the policy was based on fitness and not the age of the vehicle.
This will improve manufacturing, create jobs and help the center and state to produce each RS 40,000 crore at GST, he added.
“If we recycle continuously, we can recover 99% of ingredients.
According to estimates, this will cause a reduction of 40% in the cost of raw materials, reducing prices and encouraging ministers,” Minister said.
According to estimates, the country and the Central GST revenue will increase by RS 30,000 to RS 40,000 Crore each after vehicle sales increase, he added.
Source said the timeline policy set a final rule of policy that was notified on September 25, 2021.
In April 1, 2023, automatic fitness testing mandatory for heavy commercial vehicles must be effective.
From June 1, 2024, a gradual introduction to mandatory automatic fitness testing for all the remaining vehicle categories must begin.
State government officials said it could take several months for the players to regulate the scrappage infrastructure, after which would issue specific guidelines about the vehicle scrapping.