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India Scrappage Scheme Targets Old Commercial Vehicles
India is finalizing a plan to hike taxes, registration fees and inspection requirements on commercial vehicles built before 2000 in a bid to improve air quality in cities.
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India is finalizing a plan to hike taxes, registration fees and inspection requirements on commercial vehicles built before 2000 in a bid to improve air quality in cities.
The initiative is likely to launch by September, sources tell the Mumbai-based Economic Times. The newspaper cites studies that says the targeted vehicles emit about 25 times the amount of pollutants as new models.
The scrappage scheme also is expected to offer incentives for owners who turn in their old truck and buy a new one. ET says lawmakers are considering a policy that would waive registration fees on such purchases.
Truckmakers also are likely to be asked by the government to offer special price discounts for customers who can show a scrappage certificate, according to the newspaper.
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