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
