Vehicle scrap policy 2023

Goemkarponn Desk PANAJI: The Goa government has notified the Registered Vehicle Scrapping Policy of Goa, 2023 giving detailed guidelines over scrapping of old, unfit vehicles and also offering incentives to those voluntarily handing over their old vehicles to Registered Vehicle Scrapping Facility (RVSF). The policy aims to reduce to reduce vehicular pollution, phase out unfit and polluting vehicles pollution and also boost purchase of environment friendly, new technology vehicles. The policy will be applicable initially for a period of next 5 years. Goa has approximately 1.92 lakhs over 15 year old End-of Life vehicles which are estimated as fit for scrapping. Over the course of next 5 years, additional 3.5 lakhs vehicles registered in Goa will cross the age of 15 and a substantial number of these End-of Life Vehicles (ELV) will be from the commercial category. On this background Goa has formulated the Registered Vehicle Scrapping Policy-2023 with objective to reduce pollution by scrapping old and unfit vehicles , improve road, passenger and vehicular safety, Boost auto sector and generate employment, improve fuel efficiency and reduce maintenance cost for vehicle owners, formalize the current informal vehicle scrappage industry in Goa, boost availability of low-cost raw materials for automotive, steel and electronic industry , promote recycling of vehicle scrap in a scientific manner, promoting of circular economy in an eco-friendly manner and encourage setting up of RVSF...

India’s Vehicle Scrappage Policy took effect in April 2022. The objective of the government-funded programme is to phase out old passenger and commercial vehicles and thereby reduce urban air pollution, increase passenger and road safety, and stimulate vehicle sales. The policy requires passenger vehicles older than 20 years and commercial vehicles older than 15 years to pass a “fitness and emissions test” to keep their registration. Vehicles failing the mandatory test are defined as end-of-life vehicles, lose their registration certificate and are recommended to be scrapped. The policy further introduces incentives to scrap old vehicles, including discounts on the purchase of new vehicles against a scrappage certificate. It could bring about two important changes to India's automotive sector: First, it establishes norms that regulate vehicle phase-out on a national level with the potential to improve knowledge about vehicle retirements and to harmonise registration rules across states. Second, the policy has the potential to accelerate the formalisation of vehicle scrappage and recycling. A prerequisite for successful implementation of this policy is the availability of testing centre and scrappage yard capacity. Want to know more about this policy ? Learn more Learn more

Vehicle Scrappage Policy: Govt vehicles older than 15 years to be scrapped from April | Details Vehicle Scrappage Policy: The central government had sought approval from the states in this regard in November last year. The Ministry of Road Transport and Highways issued the notification after getting the green signal from the states. • • • • • The policy is expected to benefit the industry in three ways: Firstly, it will help in reducing emission from worn-down vehicles. Secondly, the auto industry will receive impetus, as the need to replace old vehicles with new will increase demand. And thirdly, cheaper raw materials for the steel industry will be available from scrap material. The central government had sought approval from the states in this regard in November last year. The Ministry of Road Transport and Highways issued the notification after getting the green signal from the states. The decision is currently not mandatory for the owners of private cars or motor vehicles. Also Read | Also Read | Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.