Govt notifies incentives and disincentives pertaining to Vehicles Scrapping Policy
The Road Transport and Highways Ministry has issued notification on incentives and disincentives pertaining to Vehicle Scrapping Policy. In the policy, there is a system of incentives and disincentives to nudge vehicle owners to discard old and polluting vehicles, which have higher maintenance and fuel consumption costs.
The Ministry said, as an incentive, there will be a waiver of the fee for issue of certificate of registration for a new vehicle, purchased against the authority of the Certificate of Deposit, issued by a Registered Vehicle Scrapping Facility for a vehicle being scrapped.
The Ministry said, from 1st of April next year, the charge for renewing the license of a 15-year-old car will be five thousand rupees and registration of a new vehicle will cost only six hundred rupees. The charges for registration of renewal of bikes older than 15 years will be one thousand rupees, but registering new vehicles will cost only 300 rupees.