Draft of ‘end of life’ policy for old vehicles ready: Gadkari
In a move aimed at giving further thrust to emission control measures, the Centre has almost finalised the draft norms for the ‘end of life’ policy that will provide at least 50 per cent rebate in excise duty on new vehicles for buyers who surrender their polluting old ones.
The Voluntary Vehicle Modernisation or the ‘end of life’ policy will soon be available for stakeholders’ comment, suggestions and objections, if any, Union Road Transport Minister Nitin Gadkari said on Wednesday.
“Draft of the Voluntary Vehicle Fleet Modernisation policy is ready and we will be sending it for the Cabinet approval after nod from the Finance Ministry,” Gadkari said.
Once the policy is through, it will result in about 40 per cent increase in automobile production, he said and added that it will significantly bring down pollution, which is a major concern.