India's government lets market, not officials, set prices for vehicle scrapping.

Union Minister Nitin Gadkari announced that market forces, not the government, will determine the price for scrapping vehicles. Private entities called RVSF units will set the price based on vehicle condition. The government offers incentives like waived registration fees and tax concessions on new vehicles. The policy also promotes electric vehicles and ensures environmentally friendly disposal of scrapped parts.

November 29, 2024
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