Budget 2023: Nirmala Sitharaman puts spotlight on scrapping old vehicles

Finance Minister Nirmala Sitharaman announced the Budget 2023 and said that more funds will be allocated towards scrapping old vehicles by the central
...
More funds will be allocated to the Scrappage policy under Budget 2023 by the central government
More funds will be allocated to the Scrappage policy under Budget 2023 by the central government

Finance Minister Nirmala Sitharaman announced the Budget 2023 and laid special emphasis on the scrappage vehicle policy. The minister said that more funds will be allocated towards scrapping old vehicles by the central government. She further said that the centre will support state governments to scrap old vehicles as well as ambulances.

In her budget speech for 2023, Nirmala Sitharaman said, “In addition to vehicle scrappage policy announced in Budget 2021-22, more funds have been allocated now to support efforts to scrap old vehicles under the central government. States will also be supported to help them scrap old vehicles and old ambulances."

Also check these Cars

Find more Cars
Kia Carnival 2023 (HT Auto photo)
UPCOMING
Engine Icon2199.0 cc FuelType IconDiesel
₹ 35 - 39 Lakhs
View Details
Nissan Sunny 2023 (HT Auto photo)
UPCOMING
Engine Icon1498.0 cc FuelType IconDiesel
₹ 8.50 Lakhs
View Details
Honda Wr-v 2023 (HT Auto photo)
UPCOMING
Engine Icon1199.0 cc FuelType IconPetrol
₹ 8 - 10 Lakhs
View Details
Hyundai Santa Fe 2023 (HT Auto photo)
UPCOMING
Engine Icon2199.0 cc FuelType IconDiesel
₹ 27 Lakhs
View Details
Toyota Fortuner (HT Auto photo)
Engine Icon2755.0 cc FuelType IconMultiple
₹ 33.43 - 51.44 Lakhs
Compare
View Offers
Mg Gloster (HT Auto photo)
Engine Icon1996.0 cc FuelType IconDiesel
₹ 29.98 - 37.28 Lakhs
Compare
View Offers

The Scrappage Policy was announced during the previous budget session and aims to phase out vehicles older than 15 years in a bid to boost clean-energy vehicles and new car sales. The government has already announced that it plans to scrap nine lakh vehicles owned by central and state governments, transport corporations, and public sector undertakings from April 1, 2023.

Under the Scrappage Policy 2022, the centre and state governments will provide 25 per cent tax rebate on the road tax for vehicles that are purchased by scrapping old vehicles. The government also plans to set up a scrapping facility within 150 km from each city centre across the country to facilitate accessibility.

First Published Date: 01 Feb 2023, 12:13 PM IST
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy
Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.