Which of the following is true regarding Vehicle Scrapping Policy recently announced by the Centre?

State governments have been advised to offer road tax rebate up to 25% for personal vehicles and manufacturers to provide 5% discount on purchase of a new vehicle against the scrapping certificate.

State governments have been advised to offer road tax rebate up to 50% for personal vehicles and manufacturers to provide 10% discount on purchase of a new vehicle against the scrapping certificate.

State governments have been advised to offer road tax rebate up to 33% for personal vehicles and manufacturers to provide 7% discount on purchase of a new vehicle against the scrapping certificate.

State governments have been advised to offer road tax rebate up to 40% for personal vehicles and manufacturers to provide 3% discount on purchase of a new vehicle against the scrapping certificate.