India’s automobile scrapping policy will result in 33 percent savings in raw materials and a 20 percent increase in new vehicle sales, minister for road transport and highways Nitin Gadkari said in a statement on Thursday, September 14.
“I, however, expect the automobile industry to offer a discount on sale of a new vehicle against a scrapped vehicle,” he said.
Under the vehicle scrapping policy, the central government offers INR 20 billion ($241 million) to state governments as special assistance to promote the vehicle scrapping policy.