The government is likely to approve the most awaited policy to scrap 15-year-old vehicles, Union Road Transport and Highway Minister Nitin Gadkari said on Friday.
In a bid to push for electric vehicles, the government proposed amendments to motor vehicle standards to allow scrapping of vehicles older than 15 years, reported NDTV.
While addressing 'Atmanirbhar Bharat Innovation Challenge 2020-21' event, the union minister said, "We have submitted the proposal, and I am expecting that we will get approval as early as possible for the scrapping policy."
He said that the final call on this policy will be taken by the Prime Minister's Office. The PMO had earlier sent a proposed policy for a fresh round of consultations with stakeholders.
The minister's remark comes amid reports that the government may soon announce the vehicle scrappage policy that will boost automobile demand by phasing out old and polluting vehicles.
The minister added that "once the vehicle scrappage policy is approved, India will emerge as an automobile hub, and there will also be a reduction in the prices of automobiles."
While interacting with the media after presenting budget 2020-21, finance minister Nirmala Sitharaman had also said, "scrappage policy is in the works...I would wait for the concerned ministries also to fine-tune everything and tie up loose ends and then come to a stage where it can be announced by the ministry."