Nitin Gadkari, the road transport and highways minister said that the government is soon going to announce a vehicle scrapping policy. “The policy is in works. It has to be cleared by the finance ministry. There are some issues that have to be resolved with state governments and stakeholders. It will be announced shortly,” said Gadkari.
He further added that apart from commercial vehicles and passenger cars scrappage centers, the industry stakeholders should also set up such centers for old two-wheelers. The minister also informed that he in talks with the finance minister, Nirmala Sitharaman on cutting down the Goods and Services Tax (GST) rates on vehicles.
Talking about the same, the minister said, “Any decision to cut rates will be taken by the GST Council, in which both the central government and the state governments are stakeholders. The ball is in their court. The next GST council meeting is supposed to be held on 20 September.
Gadkari was present at Honda’s recent event where they launched new Honda Motorcycle & Scooter India’s Activa 125 BS-VI.
The automobile crisis in the country is deepening with India seeing a major slump in the sales number. In the month of June, the sales fell down 23.5% year-on-year to 1.8 million units; the country’s steepest fall in nearly the last two decades.
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