CVs to retire after 20 years
Apolicy to reiterate CVs at the age of 20 years in the interest of curbing environmental damage and pollution will soon get a cabinet nod, claim industry sources. They mention that a vehicle scrappage policy will come into force from 2020, which will announce that a CV completing 20 years of age will have to go off the road once the cabinet nod is had. Claiming that there are 700,000 commercial vehicles on the road that were registered before 2000, sources aver that the policy to retire CVs after 20 years will also offer incentives to pre-2000 CVs in a bid to encourage them to shift to new ones. The incentives are likely to reduce the cost of a CV by 15 per cent, and would be subject to the approval of the GST Council. Sources add that the task of setting up scrappage centers has been entrusted to the steel ministry.