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New Delhi: Nitin Gadkari, minister of Road Transport & Highways, said that several commercial and passenger vehicle manufacturers will offer discounts for buying new vehicles against the scrapping of older vehicles with a valid Certificate of Deposit.
He said, “I am pleased to report that, in response to my recommendation, several commercial and passenger vehicle manufacturers have agreed to offer discounts for the purchase of new vehicles against the scrapping of older vehicles with a valid Certificate of Deposit. This initiative will significantly advance our Circular Economy efforts, ensuring that cleaner, safer, and more efficient vehicles are on our roads.”
He added, “Congratulations and gratitude to the automobile manufacturers who have taken the initiative to participate in our Vehicle Fleet Modernisation Programme. I trust that others will soon follow their lead and join us in this important endeavour.”
Under the new scheme, commercial vehicle manufacturers will provide discounts for two years, while passenger vehicle manufacturers will offer them for one year. This initiative is designed to incentivise the scrapping of older vehicles, ensuring that roads are populated with modern, more efficient models.
According to Gadkari, the programme aims to support fleet modernisation and enhance road safety by encouraging the use of newer vehicles.
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