Prime Minister Narendra Modi launched the Vehicle Scrappage Policy while virtually addressing the Gujarat Investor Summit on Friday. The scrappage policy will come into effect immediately after the registration period of a vehicle is over; it would then have to undergo a mandatory fitness test. The objective of the Vehicle Scrappage Policy is simply to phase out and recycle old …
The markets cheered the announcements made by finance minister Nirmala Sitharaman; the voluntary scrapping of vehicles got thumbs up Sensex and Nifty. After Sitharaman's announcement, Sensex jumped 850 points and auto stocks gained. Sitharaman said that under voluntary vehicle scrapping policy, personal vehicles would undergo fitness test after 20 years while commercial vehicles would require it after completion of 15 …
