Vehicle Scrap Policy benefits, Nitin Gadkari, many benefits of scrap policy, employment will be created, vehicles will be cheap, GST will increase- Gadkari

Vehicle Scrap Policy benefits, Nitin Gadkari, many benefits of scrap policy, employment will be created, vehicles will be cheap, GST will increase- Gadkari

Many benefits of scrap policy, employment will be created, vehicles will be cheaper, GST will increase- Nitin Gadkari

Benefits of National Vehicle Scrap Policy&nbsp

Headlines

  • GST collection will increase.
  • Vehicle prices will drop.
  • Vehicle sales will increase.

Gandhinagar : Union Minister for Road Transport and Highways Nitin Gadkari has said that the National Vehicle Scrap Policy will benefit all the stakeholders and will encourage manufacturing. He said that this policy will generate employment opportunities and both the Center and the states will get Goods and Services Tax (GST) of Rs 40,000 crore (each).

Gadkari said that cheap raw material procured from scrap vehicles will bring down the price of the vehicles and increase their sales, which will ultimately increase the GST collection. Gadkari said that Bhavnagar’s Alang ship breaking center along with Kandla port in Kutch can play an important role in fulfilling India’s dream of becoming a junk recycling hub of Southeast Asia. Gadkari said this while addressing an investor conference.

Prime Minister Narendra Modi participated in this program in a virtual way and he launched the policy. This policy focuses on recycling of old and unfit vehicles.

In his address, Gadkari said that the policy of scrapping the non-operable vehicles will be beneficial for all the stakeholders. This will encourage manufacturing, create employment opportunities and increase our savings.

He said that this will also reduce the cost of new vehicles as aluminum, steel, plastic and rubber will be available to the industry through scrap.

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