Union Minister Nitin Gadkari has said that the Centre is close to finalising the ambitious automobile scrappage policy. Gadkari spoke at the 60th ACMA Annual Session which was held virtually. In connection with the scrappage policy, he informed the session that the scheme is expected to receive the Centre's approval in a month's time or even earlier.
The policy is expected to encourage customers to go in for new purchases which will be backed up by government incentives in lieu of their old vehicles. Significantly, this move is considered to be the most vital element of any further package to prop-up the sector's growth. Besides, he urged the auto component sector to increase exports and strive for quality manufacturing.
He said that the government is now of a mindset to increase the country’s exports and limit imports by imposing a duty. On the infra push, he said that Centre will build 22 'Green Expressway Projects' and work on some have already started.
In addition, he called upon the industry to set up clusters for automobile manufacturing next to the upcoming expressways.