The automobile industry has agreed to a government proposal to give a discount of 1 % on purchasing new vehicles if, correspondingly, an old one is scrapped. The government wants to incentivise scrapping old vehicles because of apprehensions of a backlash from the transporter lobby.Union Minister of Road Transport and Highways Nitin Gadkari had a meeting with the automobile industry, represented by the Society of Indian Automobile Manufacturers (SIAM), earlier this week. In the meeting a 3 per cent discount on new vehicles was proposed.
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