Union Road, Transport and Highways Minister Nitin Gadkari said during an event in Delhi on Tuesday that the vehicle scrapping policy is expected to reduce the prices of Auto Component by up to 30 %. The Union Minister said that in such a situation, the price of vehicles can also decrease, which will benefit consumers. He said that the government's efforts to improve charging infrastructure on cities and highways will increase demand for electric vehicles (EV).
Nitin Gadkari said that the decrease in the prices of raw materials will also accelerate the acceptance of EV. The minister said, we have brought a junk policy, which will reduce the prices of vehicles with 30 percent. Vehicle Palparjas have a direct impact on the prices of vehicles. Gadkari said that the prices of lithium-ion battery in India are also decreasing before. He said that many big companies like Adani Group and Tata are going to produce lithium-ion batteries on a large scale in India.
He also said that the large lithium reserves discovered in Jammu and Kashmir are 6 percent of the world's total lithium reserves, which are sufficient for the manufacture of millions of lithium-ion batteries. Regarding the Indian automobile industry, he said that it is growing at a good speed. This industry has become the third largest industry in the world, leaving behind Japan.
The vehicle junk policy is an initiative of the Government of India, which aims to remove old and pollution vehicles from the road. Under this policy, the government encourages the removal of old and non-standard (illegal) vehicles. Its main objective is to reduce pollution, reduce oil consumption and promote new technology vehicles. Under this policy, if the vehicle owners return their old vehicles as junk, then they can get discounts and other benefits on purchasing a new vehicle. In addition, the government has set up centers for storage and disposal of junk vehicles from where vehicles can be safely destroyed.
