Business
The government has so far paid out Rs 4,415 crore for various PLI schemes.
By - 19 Jan 2024 02:31 AM
According to an official on Wednesday, the government has paid out Rs 4,415 crore for eight sectors' production-linked incentive (PLI) schemes as of October of this fiscal year.
The amount disbursed in 2022–2023 was Rs 2,900 crore.
According to Additional Secretary Rajeev Singh Thakur of the Department for Promotion of Industry and Internal Trade (DPIIT), "Incentive amount of approximately Rs 4,415 crore disbursed under PLI Schemes for eight sectors including Large-Scale Electronics Manufacturing, IT Hardware, Bulk Drugs, Medical Devices, Pharmaceuticals, Telecom & Networking Products, Food Processing and Drones and Drone Components."With an investment of Rs 1.97 lakh crore, the government unveiled PLI schemes in 2021 for 14 industries, including telecommunication, white goods, textiles, medical device manufacturing, cars, specialty steel, food products, high-efficiency solar PV modules, advanced chemistry cell batteries, drones, and pharmaceuticals.
The programs are designed to draw capital into strategic areas and cutting-edge technologies, guarantee productivity, introduce economies of scale and size into the manufacturing sector, and boost the competitiveness of Indian businesses and manufacturers abroad.
