Synopsis
The Haryana government has launched a new vehicle scrappage and recycling policy aimed at promoting environmental sustainability and providing financial assistance to vehicle owners and entrepreneurs. This initiative will also help reduce pollution and improve public spaces.Key Takeaways
- New policy for vehicle scrappage.
- Focus on environmental sustainability.
- Financial incentives for vehicle owners.
- Support for start-ups and women entrepreneurs.
- Land leasing under HSIIDC.
Chandigarh, Jan 20 (NationPress) The Haryana government has announced the Vehicle Scrappage and Recycling Facility Incentive Policy of 2024. This initiative aims to facilitate the responsible disposal and recycling of aging vehicles while fostering environmental sustainability by reducing pollution.
In a statement, Industries and Commerce Minister Rao Narbir Singh highlighted that following the National Green Tribunal (NGT)'s mandate of a 10-year limit for old diesel vehicles and a 15-year limit for petrol vehicles within the National Capital Region (NCR), the number of discarded vehicles has been on the rise. To address this issue, the state has opted for this policy.
He pointed out that this initiative will promote the recycling and reuse of vehicle parts, thereby aiding both environmental conservation and economic development. Vehicle owners are expected to gain financial incentives, while the general public will benefit from reduced congestion caused by condemned vehicles parked on roads and public areas, the minister elaborated.
The government intends to roll out the policy as an industrial scheme, providing capital subsidies or state GST reimbursements to new industrial ventures. Under this framework, the Department of Industries and Commerce will establish a 10-year land leasing program through the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC).
Furthermore, the minister stated that the government would extend financial support to start-ups, women entrepreneurs, and individuals from the Scheduled Caste category to create venture capital funds.
Financial aid up to Rs 20 crore will be available, covering 10% of project costs, excluding land expenses. Full stamp duty reimbursement is available in D-category industrial blocks, while B and C blocks will receive 75% reimbursement.
According to the minister, a grant of 50% of the project cost will be allocated for establishing a center of excellence, capping at Rs 5 crore. Additionally, a grant of Rs 50 lakh will be awarded to 10 industries that provide skills and job opportunities to the youth in the state.
