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New Delhi, The <keyword id="6404450" type="General" weightage="20" keywordseo="ministry-of-road-transport-and-highways" source="Orion">Ministry of Road Transport and Highways</keyword> (MoRTH) is confident of achieving the highways construction target of 13,814 kilometres for the current fiscal, its secretary <keyword id="20078656" type="General" weightage="20" keywordseo="anurag-jain" source="keywords">Anurag Jain</keyword> said on Friday. Addressing a press conference, <keyword id="19950697" type="General" weightage="20" keywordseo="jain" source="keywords">Jain</keyword> further said the total length of national highways in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> increased 60 per cent to 1,46,145 km till December 2023, from 91,287 km in 2014, since the <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> government came into power. "The pace of highway construction in 2023-24 so far has been better than last year, and we are confident of achieving the 13,814-km highway construction target during the current fiscal," he said. Up to December 31, 2023, the ministry has built 6,217 km of national highway, higher than last year's 5,774 km for the same period. According to him, the government is planning to award 10,000 km of national highway projects in 2023-24. Jain also said that the government has asked companies to prepare detailed project reports (DPR) for unawarded identified projects to increase the pace of awarding in 2023-24. He said the total length of four-lanes and above national highways (NHs) increased by 2.5 times to 46,179 km in December 2023 from 18,387 km in 2014. While the total length of high-speed corridors in 2014 was 353 km, which increased to 3,913 km in 2023, the total length of less than 2-lane national highways decreased from 30 per cent (2014) to 10 per cent of national highway network in 2023. Jain also said the road ministry has constructed 6,217 km of national highways up to December in 2023-24. He noted that expenditure on the ministry's highways construction expenditure is expected to increase by 9.4 times to Rs 3.17 lakh crore in 2023 from 2014. Jain said under the <keyword id="20078657" type="General" weightage="20" keywordseo="vehicle-scrapping-policy" source="keywords">Vehicle Scrapping Policy</keyword>, 44 registered vehicle scrapping facilities (RVSFs) are operational in India, while concession and motor vehicle tax was announced by 19 states/ Union Territories. As many as 49,770 vehicles were scrapped till date under the Vehicle Scrapping Policy, he added. Jain said state-owned NHAI has collected Rs 18,450 crore as toll till December in the current financial year.

Confident of achieving 13,814-km highway construction target this fiscal: Road secy

New Delhi, <keyword id="2518729" type="General" weightage="50" keywordseo="union-road-transport" source="Orion">Union Road Transport</keyword> and Highways Minister <keyword id="26680" type="General" weightage="80" keywordseo="nitin-gadkari" source="Orion">Nitin Gadkari</keyword> on Thursday said dealers of automobiles should also open <keyword id="14986732" type="General" weightage="20" keywordseo="vehicle-scrapping-facilities" source="Orion">vehicle scrapping facilities</keyword>. Addressing the fifth <keyword id="11938231" type="General" weightage="20" keywordseo="auto-retail-conclave" source="Orion">Auto Retail Conclave</keyword>, Gadkari said the government is encouraging a circular economy, and accordingly the government will give permission to dealers to start vehicle scrapping facilities. He also noted that India is encouraging use of alternate fuel and biofuel and pointed out that the government is working to make India the largest manufacturer of green hydrogen. The minister pointed out that India is the fastest growing major economy in the world and <keyword id="128764" type="General" weightage="20" keywordseo="auto-dealers" source="Orion">auto dealers</keyword> will play an important role in making India a USD 5 trillion economy. India is the fourth largest manufacturer of passenger vehicles and the sixth largest manufacturer of commercial vehicles, he said. Gadkari said his dream is to make India the top automobile hub in the world In August 2021, Prime Minister Narendra Modi had launched the National Vehicle Scrappage Policy and had said that it will help phase out unfit and polluting vehicles and also promote a circular economy.

Auto dealers should also open vehicle scrapping facilities: Nitin Gadkari

As the Indian economy pushes forward to grow at 9 per cent and above over the next few years, a key challenge for the country would be to rebalance its energy needs in favour of renewable sources by 2030 to 50 per cent as per the Paris agreement. This is where the <keyword id="44891" type="General" weightage="80" keywordseo="aluminium" source="Orion">Aluminium</keyword> sector will play a greater than ever before role. Extensive growth in electric vehicles, renewables, modern infrastructure, energy efficient consumer goods and greater dependence on strategic sectors such as aerospace and defence, will drive Aluminium consumption to grow at CAGR of 10 per cent or more. For example, Aluminium usage in EV battery is 40-50 per cent more than a normal ICE. Being 3 times lighter than steel it aids in fuel efficiency making it an efficient choice for EVs. However, the Indian aluminium industry is struggling to revive itself over the last two years following the unprecedented Covid pandemic. The declining domestic producers market share with surging imports coupled with significant cost escalation for primary producers due to a rise in input costs of critical raw materials, escalating ocean freights &amp; logistics costs due to container shortage, current coal crunch situation etc, is restricting the industry's ability to support the future of the country at a time when India cannot rely on import sources alone to fuel this growth. To give relief to the sector, there is a need for urgently looking at the duty structure. The basic custom duty on Aluminium and <keyword id="1865776" type="General" weightage="50" keywordseo="aluminium-scrap" source="Orion">Aluminium scrap</keyword> is not in line with other non-ferrous metals like Zink, lead, nickel and tin which is a huge disadvantage for domestic Aluminium producers. The industry expects increase in tariff rate of basic custom duty or peak custom duty rate from existing 10 per cent to 15 per cent. Currently custom duty on Primary Aluminium is 7.5 per cent, Downstream Aluminium is 7.5 per cent to 10 per cent and Aluminium <keyword id="6374716" type="General" weightage="100" keywordseo="scrap" source="Orion">scrap</keyword> is only 2.5 per cent. This is the reason why despite having significant presence of primary Aluminium capacity and potential to generate sufficient domestic scrap, India's consumption of scrap is 100 per cent import dependent. The way forward is to increase custom duty on Aluminium srap from 2.5 to 10 per cent. Primary aluminium industry is facing severe threat from the increasing import of Aluminium scrap. The share of scrap in total imports increased from 52 per cent in FY-16 to 66 per cent in FY-21. resulting in Forex Outgo of $2 billion (Rs 15,000 crore). What is also affecting the Indian industry is China's renewed measures to restrict Scrap imports through National Sword Policy, which is leading to greater inflow of scrap into India. China imposed 25 per cent duty on Aluminium Scrap imports from USA, and classified Aluminium Scrap in restricted import list from July, 2019, with plan to completely ban all scrap and waste imports. Post that the share of import from the US in China's total Aluminium scrap imports has declined from 53 per cent in 2017 to just 16 per cent in 2019. India has overtaken China as world's largest aluminium scrap importer due to Chinese measures. As a result, entire global scrap chain is shifted to India in absence of any quality or BIS standards for scrap recycling/ usage and imports in the country. A major threat is from US scrap imports, as US is diverting large volume of scrap to India, since EU and other developed countries have stringent standards for scrap. The import from US as share of India's total scrap imports increased from 8 per cent in FY16 to 24 per cent in FY21. This precarious situation can be resolved by safeguarding the domestic industry against these non-essential imports in the upcoming union budget. The industry demands increasing the basic custom duty on Chapter-76 (Aluminium &amp; articles). SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budget-2022-expectation-in-higher-standard-deduction-tax-slabs-and-covid-insurance/slidelist/88891751.cms">From higher standard deduction and change in tax slabs to clarity on Covid insurance, here’s what tax experts want from Budget 2022</a> <a href="https://www.businessinsider.in/budget/news/widening-tax-base-should-be-a-focus-area-in-the-union-budget-says-primus-research/articleshow/89093457.cms">Widening tax base should be a focus area in the Union Budget, says Primus Research</a>

Aluminum industry wants custom duty on scrap to be increased to 10% to protect domestic companies

New Delhi, May 10 () The much-awaited vehicle scrappage policy would help in curbing air pollution, reducing fuel consumption and curtailing fatalities in road accidents, while generating demand for new vehicles in the country amid the coronavirus pandemic, industry sources said. The proposed scrappage policy requires support from both the central and state governments, an industry source said. The governments at both levels would need to come together to make this programme successful by providing fiscal incentives for fleet modernisation, another industry source added. An incentive based mechanism will make the scheme lucrative and encourage people to scrap their old vehicles and replace them with new ones, he added. When contacted over the matter, SIAM President Rajan Wadhera told that the industry body has been engaging with the Government of India, requesting for an incentive-based scrappage policy with monetary incentives in the form of 50 per cent rebate in GST, road tax and registration charges. Similarly, SIAM Director General Rajesh Menon said an incentive based policy will help in mitigating pollution, improving road safety and conserving fuel. "And more importantly in the current context of impact of COVID 19 on the Indian auto sector, also could kickstart demand," he added. A vehicle scrappage policy is in the works for some time now. The policy aims to put a cap on the life of vehicles in terms of years run. Last week, Union Minister Nitin Gadkari had said that the scheme is likely to be finalised soon to boost the automobile sector. The proposed policy once approved, will be applicable on all vehicles including two and three-wheelers. Earlier, the policy was sent for a fresh round of consultation with stakeholders on the direction of the Prime Minister's Office. Gadakri had earlier said that once the policy is approved, India could emerge as a hub for automobile manufacturing as key raw material available from scrapping, like steel, aluminium and plastic are bound to be recycled, bringing down automobile prices by "20-30 per cent". The government on July 26, 2019 had proposed amendments to motor vehicle norms to allow scrapping of vehicles older than 15 years in a bid to spur adoption of electric vehicles. In a draft notification, the government proposed renewal of fitness certificates for vehicles older than 15 years every six months instead of the current time-frame of one year. The notification also provided that newly purchased motor vehicles will be exempted from payment of fees for registration certificate and assignment of new registration mark, if the purchaser produces scrapping certificate of the previously-owned vehicle of the same category issued by the authorised scrapping centre/agency. The government had first floated a draft voluntary vehicle fleet modernisation programme in May 2016, that proposed to take 28 million decade-old vehicles off the road. MSS RVK

'Vehicle scrappage policy to help generate demand for new vehicles amid coronavirus pandemic'

New Delhi, Dec 24 () Auto industry body SIAM on Tuesday said the electric vehicle policy announced by the Delhi government would help encourage consumers to adopt electric vehicles.
 Some of the welcome announcements in the policy include measures which would make electric vehicles affordable and acceptable, Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon said in a statement.
 These include purchase incentives, interest subvention, scrappage incentive, waiver on road tax, waiver on registration and parking fees and measures to push charging infrastructure, he added.
 Similarly, Society of Manufacturers of Electric Vehicles (SMEV) also lauded the policy unveiled by the Delhi government.
 "We are delighted to see the Delhi government take the lead in making EVs more appealing to customers...I am thankful that the government considered most of our recommendations including the conversion of commercial ICE vehicles into electric, E-bike taxi and more such alternatives as they are the key drivers in taking the e-mobility momentum forward," SMEV Director General and Hero Electric CEO Sohinder Gill said.
 These additional incentives apart from the subsidy offered by the central government would definitely encourage more people to switch to clean mobility, he added.
 With the introduction of this policy, SMEV is certain that Delhi will lead by example and more states will also emulate such measures to give a boost to the EV industry.
 "If a similar policy is adopted at the national level, we are confident that the electric mobility revolution at a mass scale will kickstart in the country," Gill noted.
 On Monday, the Delhi Cabinet gave approval to an electric vehicle policy.
 Under the Delhi Electric Vehicle Policy 2019, the city government is providing a subsidy of Rs 5,000 per kWh of battery capacity on the purchase of two-wheelers. Incentive of up to Rs 5,000 will be offered for scrapping a non-electric two-wheeler vehicle and switching to an electric vehicle.
 The purchase subsidy of four-wheelers is Rs 10,000 per kWh of battery capacity for the first 1,000 cars subject to a cap of Rs 1,50,000 per vehicle. The Delhi government also aims to transition 50 per cent of the newly-purchased buses into electric buses by 2024 and 100 per cent by 2030. There will be no road tax on registration fees on electric vehicles.
 All two-wheelers engaged in last-mile deliveries, such as food delivery vehicles, courier services, and e-commerce logistics, will be expected to transition 50 per cent of their fleet to electric by March 2023, and 100 per cent of their fleet to electric by March 2025, stipulates the policy.
 The purchase subsidy on electric autos, e-rickshaws, and e-carriers is up to Rs 30,000 and loans on a subsidy of 5 per cent will be provided to them, he said.
 The electric vehicle policy will be implemented through a board to be constituted by the city. MSS ANU
ANU

SIAM, SMEV welcome electric vehicle policy of Delhi govt

New Delhi, Feb 1 () A policy for scrapping of old vehicles "is in the works" and will be announced after concerned ministries "fine tune" it, Finance Minister Nirmala Sitharaman said on Saturday.
 The much-awaited vehicle scrappage policy is awaiting final clearance from the Union Cabinet and would focus on eliminating the fleet of old polluting commercial vehicles plying on the country's roads.
 "Scrappage policy is in the works ... I would wait for the concerned ministries also to fine tune everything and tie up the loose ends and then come to a stage where it can be announced by the ministry," Sitharaman said in an interaction with the media after presenting Budget 2020-21.
 "So many things depend on how far they are mature and right for me to use it in the budget, but that does not mean because I've not announced it in the budget no work is going on in that area," she added.
 The proposed policy, once approved, will be applicable on all vehicles including two- and three-wheelers.
 Earlier, the policy was sent for a fresh round of consultation with stakeholders on the direction of the PMO.
 Road Transport and Highways Minister Nitin Gadakri had earlier said that once the policy is approved, India could emerge as a hub for automobile manufacturing as key raw material available from scrapping like steel, aluminium and plastic are bound to be recycled, bringing down automobile prices by "20-30 per cent".
 The government on July 26, 2019 had proposed amendments to motor vehicle norms to allow scrapping of vehicles older than 15 years in a bid to spur adoption of electrical vehicles.
 In a draft notification, the government proposed renewal of fitness certificates for vehicles older than 15 years every six months instead of the current time-frame of one year.
 The notification also provided that the newly purchased motor vehicles will be exempted for payment of fees for registration certificate and assignment of new registration mark, if the purchaser produces scrapping certificate of the previously-owned vehicle of the same category issued by the authorised scrapping centre/agency.
 In May 2016, the government had floated a draft Voluntary Vehicle Fleet Modernisation Programme (V-VMP) that proposed to take 28 million decade-old vehicles off the road.
 A committee of secretaries (CoS) recommended to the ministry redesigning of the scheme for greater participation of states with partial support from the Centre.
 The CoS had suggested that the scheme may dovetail a calibrated and phased regulatory approach for capping the life of vehicles together with stricter implementation of emission norms and accordingly a revised consultation paper got in-principle nod of the PMO. DP NAM ABM

Vehicle scrappage policy to be announced after fine-tuning by concerned ministries: FM

<ul class="summary-list"><li><keyword id="11896865" type="UNKNOWN" weightage="60" keywordseo="democrats" source="Orion">Democrats</keyword> face an enormous challenge getting Sen. <keyword id="11930702" type="UNKNOWN" weightage="60" keywordseo="joe-manchin" source="Orion">Joe Manchin</keyword> onboard on <keyword id="60973" type="UNKNOWN" weightage="60" keywordseo="biden" source="Orion">Biden</keyword>'s agenda.</li><li>He said the <keyword id="12054670" type="UNKNOWN" weightage="60" keywordseo="build-back-better" source="Orion">Build Back Better</keyword> plan was "dead" but cracked the door open to a future deal.</li></ul>Democrats have an enormous challenge ahead of them as they try to convince a holdout in their party to back President Joe Biden's economic agenda.Sen. Joe Manchin of West Virginia declared the House-approved Build Back Better plan "dead" on Tuesday, reiterating his opposition to a $2 trillion package aimed at expanding healthcare, childcare, and combating the climate emergency."What Build Back Better bill?" <a href="https://www.businessinsider.com/joe-manchin-says-bidens-build-back-better-package-is-dead-2022-2">he told Insider</a>. "I don't know what y'all are talking about."He left the door cracked open for a separate deal, and Democrats eventually hope to pass a scaled-back version of their Build Back Better legislation — <a href="https://www.businessinsider.com/biden-to-pass-mountain-sized-chunck-build-back-better-psaki-2022-1">perhaps in "chunks"</a> as Biden suggested. But without Manchin's vote, Senate Democrats can't approve the plan over unified GOP opposition. That means a whole new round of Democrats haggling to figure out what parts of their domestic agenda Manchin is willing to cast a vote for. Some programs like the expanded child tax credit are <a href="https://www.businessinsider.com/biden-concedes-he-may-fail-to-renew-beefed-up-child-tax-credit-2022-1">at risk of falling out of the bill</a> due to objections from Manchin. It doesn't seem likely there will be imminent progress towards a deal on a separate bill with other priorities higher up on the Congressional to-do list, including keeping the government funded and <a href="https://www.businessinsider.com/manchin-more-interested-in-election-bill-than-biden-economic-plan-2022-1">elections reform.</a>Here's what could get a thumbs-up from Manchin as Democrats grapple to keep top priorities in a skinnier package.<h2>Obamacare fixes and prescription-drug price controls</h2><div type="image" title="obama affordable care act obamacare" height="1986" width="3972" msid="89101307" hostid="261"></div>The <a href="https://www.washingtonpost.com/health/2021/11/19/health-care-biden-spending-bill/">House bill included</a> a fresh boost of federal subsidies so people could better afford private health coverage from marketplaces established under the Affordable Care Act. It would last through 2025.An extension of the program was part of Manchin's offer to the <keyword id="11896084" type="UNKNOWN" weightage="60" keywordseo="white-house" source="Orion">White House</keyword>, <a href="https://www.washingtonpost.com/us-policy/2022/01/08/manchin-white-house-talks/">The Washington Post reported</a>. Many Democrats support the initiative since it would widen who qualifies for health coverage to many more in the middle class, either cutting or scrapping monthly premiums depending on their income. The federal assistance was beefed up for a year under the Biden stimulus law, and <a href="https://crsreports.congress.gov/product/pdf/R/R46704">it's slated</a> to expire at the end of 2022 if <keyword id="11893699" type="UNKNOWN" weightage="60" keywordseo="congress" source="Orion">Congress</keyword> doesn't step in.Many in the party, including Manchin, also want to empower the federal government to negotiate the prices of at least some prescription drugs. Key provisions within the plan <a href="https://www.kff.org/medicare/issue-brief/explaining-the-prescription-drug-provisions-in-the-build-back-better-act/#_Limit_Cost_Sharing">include</a> a cap on insulin prices set at no more than $35 a month and other limits on out-of-pocket spending, according to the Kaiser Family Foundation.He told reporters last week that he seeks to address "pharmaceuticals that are gouging the people with high prices," adding, "we can fix that."<h2>Universal pre-K</h2>Another central component of the legislation is a measure to establish universal pre-K for every 3- and 4-year-old in the US.It's a program that Manchin previously said he's <a href="https://transcripts.cnn.com/show/sotu/date/2021-09-12/segment/01">"all in" on.</a> Part of the reason could be that this program is already a reality in West Virginia for every 4-year-old, <a href="https://www.nytimes.com/2021/10/16/education/joe-manchin-universal-pre-k.html">The New York Times reported.</a>However, the initiative's effectiveness would hinge on whether states actually participate in it. That could be a problem due to its funding formula, which would see <a href="https://www.businessinsider.com/cuts-manchin-wants-bbb-biden-spending-bill-child-tax-credit-2021-12">states picking up a hefty part of the tab</a> to create or expand existing programs down the road. In addition, GOP states could simply opt out, <a href="https://www.washingtonpost.com/business/2021/11/30/biden-universal-prek-gop/">The Washington Post reported.</a> <h2>$500 billion in climate spending</h2><div type="image" title="climate change" height="2509" width="5018" msid="89101308" hostid="261"></div>Democrats <a href="https://www.businessinsider.com/climate-crisis-joe-biden-manchin-plans-reconciliation-democrats-retirement-2021-10">increasingly view</a> the Build Back Better bill as their last chance to enact sweeping measures to mitigate the heating of the planet. The US has recently experienced a spate of wildfires, strong storms, and droughts that were likely more severe due to the climate emergency. Much of the legislation is devoted to a series of tax credits and incentives meant to smooth the transition from fossil fuels to cleaner energy sources like wind and solar power. One part of the bill sets aside funding for electric-vehicle buyers to <a href="https://www.businessinsider.com/ev-tax-credit-bill-biden-tesla-gm-2021-5">get up to $12,500 in tax credits</a>.Manchin appears to favor that chunk of the bill over the rest. "The climate thing is one that we probably can come to an agreement much easier than anything else," he <a href="https://thehill.com/policy/energy-environment/588180-manchin-expresses-openness-to-climate-action-amid-spending-bill?rl=1">said on January 4.</a> "There's a lot of good things in there."Biden has said he believes that part of the package could be salvaged. "I think it's clear that we would be able to get support for the $500 billion plus for energy and the environment," he said last week.

Joe Manchin declared Biden's Build Back Better plan was 'dead.' Here's what could get a thumbs-up from him in a skinnier package

If you are planning to junk your old car, there is a possibility that the government will offer discount up to 15% on new vehicles. 
 
The road transport and highways ministry has prepared a policy under which anyone voluntary scrapping their four-wheelers older than 12 years (pre-Bharat stage II vehicle) will get up to 15% discount (including manufacturer discount and rebate on excise duty) on new vehicles. 
 
This proposal comes amid automakers are hiking car prices after <a href="http://www.businessinsider.in/searchresult.cms?query=arun+jaitley">Finance Minister Arun Jaitley</a> announced a ‘green tax’ in his <a href="http://www.businessinsider.in/searchresult.cms?query=budget+2016">Budget 2016-17</a>. 
Under the proposed policy, commercial and passenger vehicles will be covered and while junking, a certificate will be issued. 
 
Reportedly, there are more than 40 lakh Pre BS-II four-wheeler vehicles in both commercial and passenger segment in India. 
 
This is a plan under modernisation of fleet as Pre-BS II vehicles are almost 10 times more polluting than BS V vehicles. 
 Meanwhile, <keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> India, Mercedes Benz, Honda Cars India, <keyword id="596" type="CITY" weightage="20" keywordseo="Hyundai">Hyundai</keyword> Motors and <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> are hiking their car prices due to green tax. 
 
READ MORE: <a href="http://www.businessinsider.in/Maruti-Suzuki-and-Mercedes-are-hiking-car-prices-thanks-to-green-tax/articleshow/51236111.cms">Maruti Suzuki and Mercedes are hiking car prices, thanks to green tax</a> 
 
However, smart hybrid models are exempted from the tax net. 
 
Honda Cars India also plans to raise prices in a range of Rs 4,000 to Rs 80,000. 
 
The infrastructure cess of 1-4 per cent proposed in the Budget will make cars pricier by Rs 2,000-80,000 for the mainstream models and up to Rs 4-5 lakh for luxury vehicles. 
 
Hyundai Motor is also raising prices from Rs 3000 on small car Eon to Rs 80000 on SUV Santa Fe. 
 
The government is going to impose 2.5 percent cess on diesel vehicles of length not exceeding 4 metre and engine capacity not exceeding 1,500 cc, while a cess of 4 per cent was imposed on higher engine capacity SUVs and bigger sedans. 
 
(Image: Indiatimes)

The Govt is offering discounts up to 15% on new cars to encourage people to dump their old ones

If you think you will be getting sops while replacing your old car with a new one, read the fine print that government has just added. 
 
The Indian government is planning not to give sops to those buying fuel-guzzling vehicles. 
 Reportedly, cars and utility vehicles having a <keyword id="724307" type="UNKNOWN" weightage="20" keywordseo="fuel-economy">fuel economy</keyword> below 14 km per litre, as certified by the Automotive Research Association of India (ARAI), won’t get benefit. 
 
It is likely that big SUV buyers will be left out of the bracket as majority of the cars in India have fuel efficiency in excess of 25 km per litre. 
 
As per the proposed Voluntary Vehicular Fleet Modernisation Policy (V-VMP), vehicles bought before April 2005 or those below BS IV emission standards will be eligible for incentives if replaced by new ones. 
 
"Details of the plan are yet to be worked out. However, one thing is certain that the incentives won't be offered on fuel-guzzling cars. Otherwise, the motive of this policy would be defeated. Some minimum threshold of fuel efficiency would be worked out. It could be 13-14 km per litre,” a source told ET. 
 
The Indian road transport ministry had unveiled a draft of the proposed V-VMP, which suggests complete excise exemption for state transport buses to encourage public transport to shift to newer and higher capacity buses which will also help decongest roads. 
 
Those opting for V-VMP will have to deposit documents relating to the vehicle at the recycling centre. After verification, the owner will get a V-VMP certificate and the price for the scrap. Then he has to provide the certificate to the dealer while buying the new vehicle to avail of the discount.

You Searched For "vehicle scrapping policy" and got 9 results

Confident of achieving 13,814-km highway construction target this fiscal: Road secy

PTI

Auto dealers should also open vehicle scrapping facilities: Nitin Gadkari

PTI

Aluminum industry wants custom duty on scrap to be increased to 10% to protect domestic companies

IANS

'Vehicle scrappage policy to help generate demand for new vehicles amid coronavirus pandemic'

PTI

SIAM, SMEV welcome electric vehicle policy of Delhi govt

PTI

Vehicle scrappage policy to be announced after fine-tuning by concerned ministries: FM

PTI

Joe Manchin declared Biden's Build Back Better plan was 'dead.' Here's what could get a thumbs-up from him in a skinnier package

Joseph Zeballos-Roig

The Govt is offering discounts up to 15% on new cars to encourage people to dump their old ones

BI India Bureau

The govt is planning to add a new clause and you may not get any sop for replacing your old car

BI India Bureau

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