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  • December 5, 2024

Cargreen

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The price of scrapped vehicles is determined by the market, not the government: Nitin Gadkari
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The price of scrapped vehicles is determined by the market, not the government: Nitin Gadkari

  • The scrapping of old vehicles offers owners tax benefits with exemption from registration of new vehicles and motor vehicle tax.
car scrapping policy
India had introduced a vehicle scrapping policy to get rid of vehicles that have reached the end of their lifespan. The policy also offers benefits to vehicle owners for scrapping old units and purchasing new ones.

The Center will not intervene in fixing the price of vehicles sent for scrapping. Union Minister Nitin Gadkari has said that the price of such vehicles will be determined by the market. During a written reply to the Lok Sabha, Gadkari clarified that a fair price for such vehicles cannot be fixed by the government as it depends on the condition in which the vehicle is scrapped. The Center had introduced the vehicle scrappage policy to encourage owners to dispose of vehicles that have reached the end of their lifespan.

Explaining the reason behind the government’s reluctance to determine the scrap value of a vehicle, Gadkari said the price of scrapped vehicles will depend on a number of factors. For all government vehicles, the models have a minimum price set by the Ministry of Steel. However, the minister said it will not be possible for the Center to take an advance decision on the scrap value of a private vehicle without knowing the condition in which it was sent for scrapping. In his response, the minister said: “There is no government intervention in fixing a fair price for private vehicles to be scrapped. The price of these vehicles is determined by market forces, depending on the condition of the vehicle to be scrapped.”

Besides government-run car scrapping centres, the Center has also urged private entities to set up a Reserve Vehicle Scrapping Facility (RVSF). The minister said these units will also be responsible to determine the price of a scrapped vehicle after proper evaluation of its existing condition.

Vehicle scrappage policy: Incentives and tax breaks

To encourage owners of old vehicles, the Center is also offering incentives and tax benefits. In Delhi NCR, owners of diesel cars older than 10 years and petrol cars older than 15 years are urged to scrap them and buy a new one. It is believed that these vehicles have exceeded the legal age limits to be fit enough to drive on the road. Those willing to continue using the old vehicles will need to purchase a new fitness certificate.

The policy offers incentives and benefits to those who choose to scrap old vehicles. These include waiving registration fees for new vehicles purchased after presenting the deposit certificate issued upon scrapping of the old vehicle. The policy also offers motor tax benefits to owners who choose to purchase a new vehicle. For private vehicles, one can benefit from a tax benefit of up to 25 percent and for commercial vehicles of 15 percent.

Old vehicles, especially those that have reached the end of their life, are some of the biggest causes of vehicle pollution in India. The Center has been actively taking initiatives to get rid of these old and polluting vehicles. According to Gadkari, nearly 2,500 such units have been seized by authorities since the crackdown on old vehicles resumed in October this year.

Get insights into Upcoming Cars in India, Electric vehicles, Upcoming bikes in India and advanced technology that is transforming the automotive landscape.

First publication date: Nov 30, 2024 11:07 IST

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