A new voluntary vehicle scrapping policy, to phase out old and unfit vehicles, is to be announced, to encourage fuel-efficient, environment-friendly vehicles New impetus for the manufacturing sector Production-linked incentive schemes to create manufacturing global champions have been announced for 13 sectors. Rs 1.97 trillion over a five-year period starting FY22 has been allocated for these sectors, to enable manufacturers to develop scale and become an integral part of global supply chains. A voluntary vehicle scrapping policy soon A new voluntary vehicle scrapping policy, to phase out old and unfit vehicles, is to be announced, to encourage fuel-efficient, environment-friendly vehicles. Vehicles will undergo fitness tests in automated fitness centres after 20 years in the case of personal vehicles, and after 15 years in the case of commercial vehicles. New development finance institution to be created A new development finance institution (DFI) is to be created to provide lon...