Get 15% discount on scrapping four-wheelers which are older than 12 years

In the latest, a new draft voluntary vehicle fleet modernization policy has been prepared by the road transport and highways ministry that will lay down guidelines for four-wheelers which are more than 12 years old.

Last Updated: Mar 03, 2016, 11:20 AM IST
Get 15% discount on scrapping four-wheelers which are older than 12 years

Zee Media Bureau

 

New Delhi: In the latest, a new draft voluntary vehicle fleet modernization policy has been prepared by the road transport and highways ministry that will lay down guidelines for four-wheelers which are more than 12 years old.

As per a report published in ET, policy articulates that if anyone scraps his pre-Bharat stage II vehicle that is more than 12 years old, he will be eligible for a 15 percent discount on new vehicles that also includes manufacturer discount and rebate on excise duty.

The report also states that the policy will cover both the commercial and passenger vehicles. Anyone who is voluntarily willing to scrap his vehicle will receive a certificate of discount from the concerned department that can be produced at the time of purchase of new vehicle.

In addition, the government is also mulling over a plan to certify the scrap yards for old vehicles. If media reports are to believed, government is planning to extend similar incentives to owners of two-wheelers.