Production Linked Incentive Scheme (PLI)

Production Linked Incentive Scheme (PLI)

Recently the first disbursements have been approved under any Production Linked Incentive (PLI) scheme.

  • The Empowered Committee headed by CEO, NITI Aayog has approved incentives under the PLI scheme for large scale electronics manufacturing.
  • The scheme is being operated by the Ministry of Electronics and Information Technology (MeitY).
  • Under this scheme, incentives are given to promote mobile phone manufacturing and domestic manufacturing of fixed electronic components and attract large investments.
  • The scheme provides incentives ranging from 4% to 6% for a period of 5 years on the net incremental sales of manufactured goods under the specified segment.

Production Linked Incentive (PLI)

These are the cornerstone of the government’s effort to fulfill the vision of a self-reliant India.

Objective-

  • Making goods produced in India globally competitive
  • Creating Global Leaders in Manufacturing
  • Boosting the existing capabilities of domestic manufacturing for Sunrise and strategic sectors.
  • Reducing import bill by reducing dependence on imports and increasing export capacity.
  • Creating employment opportunities.

The investors who have been approved under the PLI schemes will be provided an incentive amount on an average of 5% of the production value. The PLI scheme is being implemented by the concerned Ministries/Departments. An outlay of Rs 1.97 lakh crore for PLI schemes of different sectors was announced in the Union Budget 2021-22.

Source – The Hindu

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