Good news! Junk your old car and get 5% rebate from automakers on new purchase

There is good news for consumers who are going to junk their old vehicles and buy a new one under the Vehicle Scrapping Policy as automakers will give about 5 per cent rebate on the new purchase, Union minister Nitin Gadkari has said. The voluntary vehicle scrapping policy announced in the Union Budget for 2021-22 provides for fitness test after 20 years for personal vehicles while commercial vehicles would require it after the completion of 15 years.

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