In the wake up of GST many policies are arriving in the hands of all the ministries who are delicately concerned about the economic progression, and in the same direction, transportation ministry has proposed a vehicle scrap policy which will wipe out approximately 28 million commercial vehicles which have completed 15 years of tenure. This is a vast policy to be implemented in the vision of cumulative figures as it will impact various sector deeply.
Voluntary Vehicle Fleet Modernisation Programme (V-VMP) policy is been termed by the ministry who is in the spec of passing this policy to the GST council once after the cabinet discusses all the aspects of it. Road Transport, Highways, and Shipping Minister Gadkari mentioned that “We (Ministry) will try to bring the policy as early as possible. We will make a presentation before the Cabinet Secretary on February 9 and then before the PMO. After the Cabinet nod, a presentation will be made before GST Council.”
The step is taken to control down the pollution statistics as the data describes that the 65 percent of the pollution is caused by these old vehicles which are on the verge of completion of their duties. The exchange campaign has been set up to facilitate this mega project in which a compensation of INR 5 lakh will be granted on the purchase of a new commercial vehicle worth 15 lakhs after returning their 15-year-old previous vehicle.
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