The benefits, inclusive of tax exemptions, for small vehicles like cars under this proposed policy would be up to Rs 30,000, whereas the total benefits for big vehicles like trucks, would be up to Rs 1.5 lakh. This policy will likely be valid for over-ten-year-old vehicles across the country.
Gadkari said, "We are bringing such a scheme that, for example, if you sell your old vehicle you will get a certificate which on being produced at the time of new purchase will get you a discount of up to Rs 50,000. For small vehicles like cars it will be up to Rs 30,000. Besides, there will be exemptions in taxes."
Furthermore, the government also realises the urgent need to recycle old vehicles that not only run with old technology, but also lack in terms of safety features. Gadkari added that the government's plan also includes setting up 8-10 industrial units near ports like Kandla which will give certificates for accepting old vehicles and also recycle vehicles from India and abroad, thus giving a boost to employment and economy.
(With inputs from PTI)
