You will get a discount on the new car after scrapping it

The government and vehicle manufacturers have long agreed to give discounts on buying a new vehicle after scrapping it. Union Road Transport and Highways Minister Nitin Gadkari on Tuesday chaired a meeting with the SIAM delegation at Bharat Mandapam where they discussed key issues in the automobile industry.

Also Read: What is GNSS that will replace Fastag on highways for toll tax

Union Minister gave information

Giving this information on social media on behalf of Union Road Transport and Highways Minister Nitin Gadkari, he said that I am happy to inform that in response to my recommendation, many commercial and passenger vehicle manufacturers have agreed to give discounts on the purchase of new vehicles with a valid deposit certificate in lieu of scrapping old vehicles. This initiative will significantly advance our circular economy efforts, ensuring that there are cleaner, safer and more efficient vehicles on our roads.

He further wrote that congratulations and gratitude to the automobile manufacturers who have taken the initiative to participate in our vehicle fleet modernization program. I am confident that others will soon follow their lead and join us in this important effort.

Discount will be available for a limited period

According to the information, commercial vehicle manufacturers are ready to give discounts for a limited period of two years and passenger vehicle manufacturers are ready to give discounts for a limited period of one year.

Related Articles:

Highest FD Interest Rates: These banks will give bumper interest up to 9.5% to senior citizens, check FD details

RBI New Rules For UPI Payment: How to get money back if transferred to wrong UPI ID, know here

GST taxpayers Alert! GSTR-1 will not be filed without bank account information, the rule will be applicable from this day

The post Vehicle Scrapping Policy: You will get a discount on scrapping your old car, check details first appeared on Rightsofemployees.com.