The PLI scheme was introduced in 2020 for 14 sectors with an outlay of Rs 1.97 lakh crore to improve home manufacturing capabilities and enhance exports. (Representative picture)
A most of Rs 1,649 was disbursed within the electronics sector, adopted by pharma (Rs 652 crore), meals merchandise (Rs 486 crore), telecom (Rs 35 crore), drones (Rs 30 crore), and medical units (12.8 crore), amongst others
The authorities has launched Rs 2,874.71 crore to the beneficiaries of the production-linked incentive scheme until March, with a majority of corporations from eight sectors like electronics, telecom, pharma and meals processing, a senior official mentioned on Wednesday. Additional Secretary within the Department for Promotion of Industry and Internal Trade (DPIIT) Rajeev Singh Thakur mentioned these eight sectors are doing nicely, whereas few want to improve their tempo.
The scheme was introduced in 2020 for 14 sectors with an outlay of Rs 1.97 lakh crore to improve home manufacturing capabilities and enhance exports.
He mentioned that incentive claims of over Rs 3,420.05 crore have been acquired below the scheme for eight sectors – large-scale electronics manufacturing; electronics and know-how merchandise; bulk medication; medical units; prescription drugs; telecom and networking merchandise; meals gadgets; and drones, of which “over Rs 2,800 crore have already been disbursed”.
“The next two-three years will be crucial and we hope that things will move with a fast pace,” Singh instructed reporters right here.
Till December 2022, 717 purposes have been permitted in 14 sectors with anticipated investments of Rs 2.74 lakh crore. Actual funding of Rs 53,500 crore has been realised, which has resulted in incremental manufacturing/gross sales of over Rs 5 lakh crore and employment era of over 3 lakhs, he added.
A most of Rs 1,649 was disbursed within the electronics sector. It was adopted by pharma (Rs 652 crore), meals merchandise (Rs 486 crore), telecom (Rs 35 crore), drones (Rs 30 crore), medical units (12.8 crore), and electronics (Rs 5.3 crore) and bulk medication (Rs 4.34 crore).
The different sectors the place the production-linked incentive (PLI) scheme has been prolonged embody white items, speciality metal, superior chemistry cells, auto parts and textiles. When requested about plans to embody extra sectors below the scheme, he mentioned that calls for are coming from completely different industries however no determination has been taken but.
“We count on that within the subsequent 2-3 years, issues will transfer at a wholesome fee,” he added.
Read all of the Latest Business News, Tax News and Stock Market Updates right here
(This story has not been edited by News18 employees and is revealed from a syndicated information company feed)
