Scrappage Policy

Budget 2021: Finance Minister Nirmala Sitharaman announces new voluntary vehicle scrappage policy

As per this policy, personal vehicles over 20 years old and commercial vehicles over 15 years old would undergo automated fitness tests.

All govt-owned vehicles that are more than 15 years old will be taken off the streets by 1 April 2022

As per the approved proposal, for personal vehicles, the green tax could be levied on vehicles older than 15 years.

Budget 2020: Toyota seeks scrappage policy, income tax benefit on purchase of all kinds of vehicles

Toyota Kirloskar Motor (TKM) on Monday urged the government to come out with a scrappage policy for old vehicles ahead of the Budget, while also seeking to extend income tax benefits available for electric cars to other vehicles as well