By R Sridhar
Just one of the most distinguished chatting details after the Union Budget 2021-22 is the formal announcement of a motor vehicle scrappage coverage. The information of the coverage are however awaited. But the reality is that a extensive-standing demand of the professional motor vehicle industry for the scrapping of aged vehicles has been accepted by the Governing administration.
This follows intently after the announcement of a eco-friendly coverage to scrap the authorities and public sector vehicles older than 15 yrs.
The sale of professional vehicles is cyclical — it moves in tandem with the basic economic progress, albeit with a compact lag. Underneath the voluntary motor vehicle scrappage coverage, own passenger vehicles which are about twenty yrs, and professional vehicles that are about 15 yrs