Buying a new car? Here is how you can get Rs 20,000 discount, according to Union Minister Nitin Gadkari
Leading passenger vehicle manufacturers have agreed to offer a discount of 1.5 per cent of the ex-showroom price of new car, or Rs 20,000, whichever is less. Last year Gadkari said the country needs 1,000 vehicle scrapping centres and 400 automated fitness test centres.
Union Minister of Road Transport and Highways, Nitin Gadkari has said that vehicle manufacturers have agreed to offer discounts for the purchase of new vehicles against the scrapping of older ones. The development came after Gadkari chaired a meeting with the Society of Indian Automobile Manufacturers Association (SIAM) delegation on Tuesday.
CREDIT: BCCL
Carmakers to offer discounts on scrapping
"During this interaction, responding positively to the advice of Hon'ble Minister RT&H and recognising the importance of Fleet Modernisation and Circular Economy, multiple Commercial Vehicle Manufacturers and multiple passenger vehicle manufacturers have agreed to offer discounts for a limited period against a certificate of deposit (Scrappage Certificate)," a statement said.
For vehicles with a valid Certificate of Deposit
"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," the minister later posted on X.
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¡ª Nitin Gadkari (@nitin_gadkari) August 27, 2024
Chaired a highly productive session of the SIAM CEO¡¯s Delegation Meeting at Bharat Mandapam today, where we addressed various critical issues facing the automobile industry.
I am pleased to report that, in response to my¡ pic.twitter.com/9n4aUdgoby
How much discount can you get
According to reports, leading passenger vehicle manufacturers have agreed to offer a discount of 1.5 per cent of the ex-showroom price of new car, or Rs 20,000, whichever is less.
CREDIT: BCCL
Last year Gadkari said the country needs 1,000 vehicle scrapping centres and 400 automated fitness test centres.
Noting that the National Vehicle Scrappage Policy is a win-win for all stakeholders, the minister had said that India can be a scrapping hub in South Asia.
"Circular economy is very important and it is going to create jobs in the country," Gadkari said.
National Vehicle Scrappage Policy
Prime Minister Narendra Modi launched the National Vehicle Scrappage Policy in August 2021 and said it would help phase out unfit and polluting vehicles and also promote a circular economy.
CREDIT: BCCL
The vehicle scrappage policy came into effect on April 1, 2022.
CREDIT: PIB
Under the policy, the Centre said that the states and Union Territories (UTs) would provide up to 25 per cent tax rebate on road tax for vehicles that are purchased after scrapping old vehicles.
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Bobins Abraham is the Assistant News Editor at Indiatimes. He has more than twelve years of experience in TV and digital journalism. An avid student of history and geopolitics, he is a conservationist and environmentalist at heart. He writes on environment, sustainability, human-animal conflict and more.
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