Nirmala Sitharaman this will promote fuel-efficient and environment friendly vehicles.
New Delhi:
Finance Minister Nirmala Sitharaman on Monday announced the much-awaited voluntary vehicle scrapping policy to phase out old and polluting vehicles.
Presenting the Budget for 2021-22 in Parliament, Ms Sitharaman said that under voluntary vehicle scrapping policy, personal vehicles would undergo fitness test after 20 years while commercial vehicles would require it after completion of 15 years.
Welcoming the policy, Road Transport, Highways and MSMEs Minister Nitin Gadkari said the policy will lead to new investment of around Rs 10,000 crore and create as many as 50,000 jobs.
He further said the policy would cover over 1 crore light, medium and heavy motor vehicles.
Scrappage Policy: How your old car will not become scrap metal
Scrappage Policy: How your old car will not become scrap metal
The Scrappage Policy is due to arrive in the next fortnight. We tell you all about what will happen to old cars and how you can save yours.
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UPDATED: February 1, 2021 20:50 IST
Cars over 20 years of age will be allowed to ply on roads. However they will have to pass stringent fitness tests.
HIGHLIGHTS
Age limit of private vehicles increased from 15 to 20 years.
Benefits to come for those opting for the scheme.
Finance Minister Nirmala Sitharaman has announced a voluntary vehicle scrapping policy to phase out old and unfit vehicles. According to the Minister, this will not only help reduce pollution, but also reduce India’s fuel import bills. However there is more to the policy than just this. You can read all about the benefits of the Scrappage Policy and we also tell you how it is not a compulsory move and that you can retain your old
After builders accused cement manufacturers of indulging in cartelisation to jack up prices, cement manufacturers have hit out at builders saying they were misleading the government and that the government should look into their margins. The development comes a day after Union Road Transport Minister Nitin Gadkari said that the cement industry was trying to raise prices through cartelisation and there was an urgent need for a regulator. Industry players from the South have created a new body South India Cement Manufacturers Association (SICMA), which will be headed by N Srinivasan, vice chairman ánd managing director, India Cements. The office bearers, including Ravinder Reddy, director, Bharthi Cements and vice president of SICMA and Krishna Srivastava, director, Penna Cements and Secretary of SICMA, alleged that what ails the cement industry and in-turn India s growth is the poor growth of the housing sector. They said that this was due to the artificially high price of flats
Need to place regulator as big street, cement firms operating as a cartel: Gadkari
India
Published: Monday, January 11, 2021, 11:33 [IST]
Mumbai, Jan 11: Big players in the steel and cement industry are indulging in cartelisation to jack-up prices, Union Road Transport Minister Nitin Gadkari has said, pitching to place a regulator for the sectors.
It will be difficult to achieve Prime Minister Narendra Modi s dream of making India a USD 5 trillion economy if the steel and cement prices keep going up, Gadkari said, pointing out the target of investing Rs 111 lakh crore on infrastructure projects in the next five years to aid the economy.
Big players in the steel and cement industry are indulging in cartelisation to jack-up prices, Union Road Transport Minister Nitin Gadkari has said, pitching to place a regulator for the sectors.