Speed Post News Network
New Delhi : The vehicle scrapping policy with a gamut of incentives/ dis-incentives is designed for creation of an ecosystem to phase out old and unfit polluting vehicles. It is likely to lead to higher growth in the auto and ancillary industries.
It would also ensure availability of rare-earth metals as also raw materials for steel industry, etc. The policy is likely to generate more employment with development of the scrapping ecosystem, and higher growth in the automotive sector, according to a PIB release.
This information was given by Union Road Transport and Highways Minister Nitin Gadkari in a written reply in the Lok Sabha.