New vehicle scrappage policy to attract investments worth Rs 10,000 crore

Modi also said that a scrapping certificate would be issued for a vehicle, based on which there would be no registration fees required for the new vehicle purchase as part of the policy.

Launching the new National Automobile Scrappage Policy at an investors' summit held by the Gujarat government, Prime Minister Narendra Modi said that the new policy would attract investments worth Rs 10000 crore.

Addressing virtually the Investor Summit that was held in Gandhinagar on Friday, Modi said that the government aims to remove unfit and polluting vehicles in a scientific manner through the policy.

"The policy is an important link to achieve the circular economy of waste to wealth. It will also energise India's auto sector and metal sector under the principles of reuse, recycle and recover," he said.

Modi also