Draft Vehicle Scrappage Policy- Features, Challenges & Way Forward

Vehicle scrappage programs serve multiple purposes like reducing traffic congestion, air pollution, pressure on mines, etc. However, it is also a key tool for economic revival as it has a direct bearing on the automobile sector- a critical determinant of economic growth. Many countries used it in the aftermath of the 2008 financial crisis to aid their recovery. Recently, Ministry of Road Transport and Highways released the draft Vehicle Scrappage Policy. This could serve as a much needed leg up for the Indian auto industry and post-COVID economy.

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