Union Cabinet approves 2 lakh crore worth PLI scheme for 10 sectors
4 years, 1 month ago

Union Cabinet approves 2 lakh crore worth PLI scheme for 10 sectors

Live Mint  

NEW DELHI: The Union Cabinet on Wednesday approved production-linked incentives for 10 sectors, including auto, pharmaceuticals, and textiles, worth almost 2 lakh crore to boost manufacturing, make India self reliant and generate employment. The decision of the Union Cabinet was announced by information and broadcasting minister Prakash Javadekar along with finance minister Nirmala Sitharaman in New Delhi. Among sectors, auto components and automobile sectors have received the maximum incentive of ₹57,000 crore, Javadekar said. The PLI scheme now offers 4-6% incentive to eligible electronic companies on incremental sales of manufactured goods--mobile phones and electronic components such as printed circuit boards, sensors, among others--for a period of five years.

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