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Implementation of production linked incentive (PLI) schemes worth up to ₹1.45 lakh crore for 10 key sectors announced recently by the government is likely soon. All Ministries and Departments concerned are working towards preparing the expenditure finance committee (EFC) note within the stipulated time lines so that Cabinet approval can be sought early, Guruprasad Mohapatra, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), has said.
Qualifying criteria crucial for the ten new sectors under the PLI scheme to succe ed
“DPIIT is regularly interacting with all concerned ministries/departments to review the time lines for implementation of their respective PLI schemes. Feedback received indicates that the EFC Notes for all the schemes will be prepared within stipulated time lines and Cabinet approval will be sought very soon. Thereafter, schemes will be notified and implemented within three-four months,” Mohapatra said in an interview with BusinessLine .
PLI scheme to cover 10 more sectors, to get ₹1.46-lakh crore over five years
Financial outlay for auto
The PLI scheme, aimed at boosting domestic manufacturing and exports in line with the country’s Atmanirbhar Bharat policy, was recently announced for ten sectors — automobiles and auto components, pharmaceuticals, specialty steel, telecom & networking, electronic & technology products, white goods (ACs and LEDs), textiles, solar PV modules, food products and ACC Battery.
Under the scheme, incentives will would be extended for manufacturing and investing in India. The final proposals of PLI for individual sectors will have to be appraised by the EFC and approved by the Cabinet.
“The PLI scheme will be implemented by the concerned Ministries/Departments and will be within the overall financial limits prescribed. The largest financial outlay has been given to the PLIs on automobile and auto components and on advanced chemistry cells,” Mohapatra pointed out.
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