Government May Introduce End Of Life Policy For Vehicles In Budget

The government may introduce an End Of Life policy in the annual budget. The major highlight of the policy a rebate of at least 50 per cent in excise duty on new vehicles for those who exchange their old vehicles.

Under the proposed policy, owners would get an incentive of up to Rs 30,000 for discarding small vehicles like cars, to Rs 1.5 lakh for big vehicles like trucks. The policy will be applicable for all vehicles that are over 10 years old.