Regular scrapping will help around 99% of metal waste recovery: Nitin Gadkari

Around 99% of recovery (metal waste) can be done with regular scrapping. It'll bring down cost of raw material by approx 40%. It'll make components less expensive and increase our competitiveness in international market, said Union Minister Nitin Gadkari on August 13 at the launch of National Automobile Scrappage Policy on scrapping of old vehicles. “As per an estimate, with increased sale of automobiles, the Government will get a profit of Rs 30,000-40,000 crore in GST. The State government will also get a profit of Rs 30,000-40,000 crore in GST,” he added.