PM Modi launches vehicle scrappage policy, says it will bring investment worth Rs 10,000 cr in India

Prime Minister Narendra Modi, on Friday, launched the vehicle scrappage policy, stating that it will bring investment worth Rs 10,000 crore in India.

During a virtual summit at the Investor Summit in Gujarat, PM Modi said the policy is a significant milestone in the country's development journey. He also invited youth and startups to join the programme.

"Normal families will be greatly benefited by this policy in every way. The first advantage will be that a certificate will be given on scrapping the old vehicle. Whoever has this certificate will not have to pay any money for registration on the purchase of a new vehicle," the Prime Minister Office (PMO) tweeted.इस पॉलिसी से सामान्य परिवारों को हर प्रकार से बहुत लाभ होगा।

"Along with this, he will also be given some exemption in road tax. The second benefit will be that the maintenance cost, repair cost, fuel efficiency of the old vehicle will also be saved," it added.