PIB News Update: The 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.
This information was given by Union Minister for Road Transport and Highways, Shri NitinGadkari in a written reply in the Lok Sabha.