Union Finance minister Nirmala Sitaraman announced a new vehicle scrapping policy in the 2021 budget, which is expected to impact the automobile sector in a big way and could have a negative impact on small and medium entrepreneurs associated with it. While the government is pushing it as a move to revitalize the automobile manufacturing sector, the small-scale entrepreneurs and/or vehicle owners say that it could lead to unemployment of unskilled labour working in the sector. The small entrepreneurs are also concerned with the timing of the new policy, given the economic slowdown triggered by Covid19-induced lockdowns. Another common concern…
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