Vehicle Scrappage Policy will reduce the cost of new vehicles, Transport Minister Nitin Gadkari told India TV its benefits

 

credit; india tv

new Delhi. After announcing the much-awaited voluntary scrap policy to convert old vehicles into junk, Road Transport, Highways and MSME Minister Nitin Gadkari said in a special conversation on India TV on Tuesday that the move will reduce pollution and reduce the cost of new vehicles will gain help in. At the same time it will also benefit the automobile sector. Gadkari said that the new scrap policy will also boost the demand for heavy and medium commercial vehicles.

Gadkari said that scrap, copper, aluminum, plastic, steel etc. would be recycled from the scrapped vehicles and this would reduce the cost of making new cars, buses and trucks for the automobile industry. This will also increase India's competitiveness in the international market.

The new vehicle will make petrol and diesel less, pollution will be less. He said that if a truck is 15 or 20 years old, it has to be taken again and again for repair. His average is less and the pickup is also less. The new scrap policy will increase the earnings of transporters and reduce pollution. This will create new jobs. With the help of this policy, the country will become the world's number one auto manufacturing hub in the next 5 years.

Gadkari said that exports from the country will also increase due to the low cost of auto manufacturing. Currently, the country's automobile industry is worth Rs 4.5 lakh crore. In the coming time, 30 percent of the cell will grow and the industry will cross Rs 6 lakh crore. The economy of the new country will benefit from it. The automobile industry contributes 7 percent to GDP. This policy is in the interest of the country. This will reduce fuel imports.

The Minister said that the recycled material of old vehicles will help in reducing the price of new vehicles. We will buy scraps from all over the world and here we will create a new industry. Here we will make a completely new material from the old stuff and it will also cost less and this industry will be more competitive. This will give us more export orders and also reduce our imports.

Gadkari said that in the coming years, India will be the largest manufacturing hub of all kinds of cars, buses and trucks, where all types of fuels such as ethanol, methanol, bio-CNG, NLG, electric as well as hydrogen fuel cell run Vehicles will be built on a large scale.

Finance Minister Nirmala Sitharaman on Monday announced a voluntary scrapping policy to get old and unfit vehicles out of operation, presenting the General Budget 2021-22. The policy proposes to convert 20-year-old private vehicles and 15-year-old commercial vehicles into scraps.