Insta
With Automobile Sector Facing Downturn, Union Minister Nitin Gadkari Says Vehicle Scrappage Policy In The Works
Queues of trucks. (Abhijit Bhatlekar/Mint via Getty Images)
Amid the automobile sector facing a sector-wide slowdown including commodity transport vehicles like trucks, Union Road Transport and Highways Minister Nitin Gadkari has said that the centre is working on bringing in a scrappage policy for old vehicles.
The policy has been a demand of the sector since long, with the potential to boost the heavy vehicle sales. The policy will also give rise to scrappage centres for the vehicles as several vehicles being operated on Indian roads across sectors are now decades old.
“The policy is in the works. It has to be cleared by the finance ministry. There are some issues which have to be resolved with state government and stakeholders. It will be announced shortly,” Gadkari said.
Gadkari also informed that the ministry is looking into the GST rate cut demand of the automobile industry and the issue has been taken up with the Finance Ministry. Rates for various classes of goods are decided by the GST council which is scheduled to meet on 20 September.
“Any decision to cut rates will be taken by the GST Council, in which both the central government and the states governments are stakeholders. The ball is in their court,” he said.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
