There are nearly 55,000 taxis running on Mumbai streets. This rule, which was approved by the State Transport Authority and Mumbai High Court, will take more than 7000 vehicles off the road.
Maruti Omni and Wagon R are the new favorites.
Premier Padmini was based on 1963 Fiat 1100 design and was built in India from 1968 to 2000.
The old taxis have been fetching just Rs 12000 in Mumbai scrapyards. The replacement cabs -- Omni -- costs upwards of Rs 1.85 lacs.