Categories: Economy

Automobile scrappage policy in final stages, says Gadkari

&lt;p class=&quot;p1&quot;&gt;Minister for Road Transport &amp;amp; Highways, Minister of Shipping and the Minister of Micro, Small and Medium Enterprises Nitin Gadkari today said the Centre is close to finalise the ambitious automobile scrappage policy.&lt;/p&gt;
&lt;p class=&quot;p1&quot;&gt;Gadkari spoke at the 60th ACMA Annual Session which was held virtually.&lt;/p&gt;
&lt;p class=&quot;p1&quot;&gt;In connection with the scrappage policy, he informed the session that the scheme is expected to receive Centre&#039;s approval in a month&#039;s time or even earlier.&lt;/p&gt;
&lt;p class=&quot;p1&quot;&gt;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.&lt;/p&gt;
&lt;p class=&quot;p1&quot;&gt;Significantly, the move is considered to be the most vital element of any further package to prop-up the sector&#039;s growth.&lt;/p&gt;
&lt;p class=&quot;p1&quot;&gt;Besides, he urged the auto component sector to increase exports and strive for quality manufacturing.&lt;/p&gt;
&lt;p class=&quot;p1&quot;&gt;He said that government is now of a mindset to increase the country&#039; s exports and limit imports by imposing duty.&lt;/p&gt;
&lt;p class=&quot;p1&quot;&gt;On the infra push, he said that Centre will build 22 &#039;Green Expressway Projects&#039; and work on some have already started.&lt;/p&gt;
&lt;p class=&quot;p1&quot;&gt;In addition, he called upon the industry to set up clusters for automobile manufacturing next to the upcoming expressways.&lt;/p&gt;.

IANS