The Committee of Secretaries (CoS) has given nod to the vehicle scrapping policy, which will now be sent to the Cabinet for its nod, Union Minister Nitin Gadkari said today.
The Voluntary Vehicle Fleet Modernisation Programme (V-VMP), which proposes to push decade-old vehicles -- 28 million in number -- off the roads in the first phase, aims at scrapping commercial vehicles that have completed 15 years.
"The Committee of Secretaries (CoS), chaired by the Cabinet Secretary, has given nod to the vehicle scrapping policy and now we are in the process of preparing a note for the Cabinet," Road Transport and Highways Minister Gadkari said on the sidelines of the Assocham annual event here.
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The minister said that after the Cabinet nod, a presentation will be made before the GST Council with consultations from states.
Gadkari said once the policy is implemented, pollution will be checked considerably as 65 per cent of the pollution is caused by heavy vehicles that have completed 15 years.
He said there are two lakh commercial vehicles which are over 15 years old.
Last week, the minister has said that once the proposal is accepted, it is bound to provide a Rs 10,000 crore boost in tax revenue as the automobile sector will stand to gain.
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