Here’s all about Scraping Policy unveils in Gujarat Budget

In a historic move, Finance Minister Kanu Desai presented the largest-ever budget for the state of Gujarat, featuring a plethora of public-oriented initiatives and groundbreaking announcements.

Nationwide Vehicle Scrapping Policy Takes Center Stage in Gujarat budget :

A significant highlight of the Gujarat budget presentation was unveiling a nationwide vehicle scrapping policy, signaling the government’s commitment to fostering a robust ecosystem. 

The policy aims to address environmental concerns related to vehicular pollution, enhance road safety by mitigating vehicle defects, and incentivize the adoption of fuel-efficient and eco-friendly vehicles.

The primary objectives of the vehicle scrapping policy include preventing environmental damage caused by vehicular pollution, reducing road accidents associated with vehicle defects, and encouraging the populace to invest in more fuel-efficient and environmentally beneficial vehicles.

Incentivizing Vehicle Owners with Amnesty Scheme:

Under the policy, vehicle owners paying recurring tax will be eligible for significant incentives if they scrap their vehicles older than 8 years through registered vehicle scrappers. 

The incentives cover all liabilities, including outstanding motor vehicle tax, interest, penalty, and any challan under the Motor Vehicles Act. An amnesty scheme for one year has been introduced to facilitate this process.

Relief for 52,000 Vehicle Owners:

Approximately 52,000 vehicle owners stand to benefit from this decision, receiving relief amounting to Rs 700 crore. 

The initiative alleviates financial burdens and encourages individuals to opt for newer vehicles equipped with advanced technology.

In addition to providing relief to vehicle owners, the policy is expected to stimulate the purchase of new vehicles with advanced technology. 

This shift towards modern vehicles is anticipated to contribute to an increase in tax revenue for the government.

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