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Production linked incentives News

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Initially, March 29 was the last date for manufacturers to apply for the benefits under the PLI scheme. The official said "the ministry is yet to come out with the modified scheme."
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The scheme seeks to provide a total incentive of Rs 120 crore for the manufacturing of drones in India. The funds will be disbursed over the next three financial years. The PLI rate is 20 per cent of the value addition, one of the highest among PLI schemes.
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The minister said the government has launched PLI schemes for different sectors to make Indian self-reliant. He said the objective is to ensure that all core chemicals are manufactured in India for domestic as well as global markets.
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Danish told PTI that the investment is part of the Rs 7,500-crore commitment that the company made for India. He said that the company has already invested Rs 1,900 crore from total till 2021.
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Under the scheme, FY 2024-25 will be considered as the first performance year. This is subject to the entities achieving a minimum of Rs 600 crore turnover by the first performance year. The scheme will be in operation from September 24, 2021 to March 31, 2030.
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PM Modi said that the decision will encourage research and innovation in the sector. He added that the move also boost manufacturing, strengthening the 'Aatmanirbhar Bharat' programme.
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The approvals were given during the ninth meeting of the empowered committee held on November 25. The committee considered all the applications as per the scheme guidelines. The commercial production of these plants is projected to commence from April 1, 2023, onwards.
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The PLI package comes as a major relief for automakers. The scheme will aim to bolster the manufacturing of electric vehicles and hydrogen fuel vehicles in the county.
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The Central government will offer incentives worth Rs 10,683 crore to firms The scheme is also aimed at attracting fresh investments in the textile sector. The Centre is aiming to attract investments to the tune of Rs 19,000 crore in the coming years.
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Union Minister Anurag Thakur said that the Rs 10,683 crore PLI scheme will boost domestic manufacturing and exports. The budgetary outlay of the scheme is Rs 10,683 crore. The Cabinet has also increased the minimum support price (MSP) for wheat by Rs 40 and for mustard seeds by Rs 400.
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Minister Prakash Javadekar told reporters after the Cabinet meeting. The proposal aims to achieve a manufacturing capacity of 50 Gigawatt Hour of ACC and 5 GWh of niche ACC, he said. It will promote green growth and use local products like copper and bauxite to a large extent, he added.






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