mumbai, Feb. 19 -- Scrapping your old smoke-belching car was supposed to help clean the air and encourage a new purchase through discounts. In a curious twist, the scrapping policy now ends up providing a hefty discount to another buyer of a different vehicle-potentially worth lakhs of rupees for luxury car buyers. It also gives you, the seller, more money than just the scrap value of the old car.
Here's an example of how this works. You scrap your 15-year-old car, which is at the end of its operational life, at an authorised scrapping yard, also called registered vehicle scrapping facilities (RVSF). You get two things-a certificate of deposit and, say, about Rs.20,000 for the value of the car.
Then, you sell this certificate at a governm...