Page 2 - Scrappage Policy

Budget 2020: Toyota seeks scrappage policy, income tax relief on vehicles

Toyota Kirloskar Motor (TKM) on Monday urged the government to come out with a scrappage policy for old vehicles ahead of the Budget, while also seeking to extend income tax benefits available for electric cars to other vehicles as well. "We would like the Budget to spur demand without putting any additional burden on the government exchequer; one way to achieve this is by realising the scrappage policy for all old vehicles, the draft policy of which has been shared by the government," TKM Senior Vice-President (Sales & Services) Naveen Soni said in a statement. The auto industry is willing to share its portion towards realising such scrappage policy, which will eventually have a more sustainable impact on the environment, he added. Additionally, another thrust area would be to extend the income tax benefits available for electric cars to other vehicles as well, or to extend the depreciation benefit currently available only to companies and professionals to personal customers ...

Budget 2020: SIAM seeks incentive-based scrappage policy, GST rate cut

Seeking a turnaround in fortune, the auto industry has been seeking government support and reduce the burden of transition to BS-VI with lower GST rate

Auto scrappage policy targeting CVs a way to start revival: Sajjan Jindal

If we are to become a $5 trillion economy, then we need at least 7 per cent to 8 per cent GDP growth, if not higher, says Sajjan Jindal

Govt rejects plea for extension to SEZ units for importing plastic scrap

The proposal was put forth for final approval earlier this month by the Board of Approval (BoA) for SEZs under the chairmanship of Anup Wadhawan, Secretary, Department of Commerce

Vintage cars to have special number plates, be exempt from scrappage policy

The move is aimed at helping collectors of such vehicles avoid harassments from enforcement agencies, an official said.

Auto stocks gain on report that Cabinet may approve scrappage policy today

Tata Motors, Mahindra & Mahindra, Bharat Forge and Ashok Leyland from the Nifty Auto index climbed 3 per cent each on the National Stock Exchange.

Scrappage policy may bring in stricter norms for pre-2005 built vehicles

A committee of secretaries (CoS) recommended to the ministry redesigning of the scheme

India's scrappage policy will pave the way to sustainable recycling of cars

The country that hosts the world's fourth largest automobile industry is a late starter in recycling of ELVs in an environmentally sustainable way

Auto scrappage policy a success globally, but govt must avoid the pitfalls

A well-implemented policy will not just help boost demand for motor vehicles, but will also help create jobs and alleviate the consumption and demand slowdown across demographics

Scrappage policy may not increase new vehicle demand significantly:Crisil

The much-awaited policy has received a go-ahead from the Prime Minister's Office and is awaiting approval from the GST Council

New scrappage policy to add Rs 14,000 cr to union, state govts' kitty

Road transport minister Nitin Gadkari said the central government will gain Rs 4,000 cr while states will gain Rs 10,000 cr, and industry sales will grow 22%