OEMs, dealers to aid the collection of old vehicles, recyclable spares through the take-back scheme, or by setting up scrapping centres or through tie-ups with such facilities
The Road Transport and Highways Minister stated that he has cleared a cabinet note on the proposed policy and the finance ministry has also approved the same
A well-implemented policy will not just help boost demand for motor vehicles, but will also help create jobs and alleviate the consumption and demand slowdown across demographics
The scrap units will be set up either by the private sector or as public-private partnerships
Proposed policy aims to scrap heavy vehicles that are more than 15 years old in the first phase