India News | Ministry of Road Transport and Highways Releases List of Incentives, Disincentives Under Vehicle Scrapping Policy
Get latest articles and stories on India at LatestLY. The Ministry of Road Transport and Highways issued a list of incentives and disincentives pertaining to the Vehicle Scrapping Policy on Tuesday.
New Delhi [India], October 6 (ANI): The Ministry of Road Transport and Highways issued a list of incentives and disincentives pertaining to the Vehicle Scrapping Policy on Tuesday.
These incentives and disincentives combined are aimed at encouraging the vehicle owners to discard their old and polluting vehicles having higher maintenance and fuel consumption costs.
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"As an incentive, there will be waiver of the fee for issue of certificate of registration for a new vehicle, purchased against the authority of the Certificate of Deposit (CoD) issued by a Registered Vehicle Scrapping Facility for a vehicle being scrapped," read the press statement by the ministry.
The disincentives include: 1). Increase in the fee for conducting fitness test and renewal of fitness certificate for motor vehicles more than 15 years old. 2). Increase in the fitness certification fee for transport vehicles more than 15 years old. 3). Increase in the renewal of registration fee for personal vehicles (non-transport vehicles) more than 15 years old.
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Presenting the Union Budget 2021-22, Finance Minister Nirmala Sitharaman on February 1 announced a voluntary vehicle scrapping policy to phase out old and unfit vehicles under which the personal vehicles will undergo a fitness test in automated centres after 20 years while the commercial vehicles will undergo the test after 15 years. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)