Committee on PLI approves disbursement of Rs 1,000 crore for electronics sector
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An empowered committee on production linked incentive (PLI) scheme has approved the distribution of Rs 1,000 crore to beneficiary companies in the electronics sector. A top government official gave this information. The government has received claims worth Rs 3,400 crore under this scheme, out of which it has distributed Rs 2,900 crore till March 2023. The objective of the scheme is to promote domestic manufacturing, create jobs and support exports. “In the recent meeting of the committee, approval was given for distribution of Rs 1,000 crore under the PLI scheme for the electronics sector,” the official said. It will take a few more days for the actual payment to the beneficiary companies.” This will be the first distribution of the current financial year.
The scheme was announced for 14 sectors in 2021. These include large-scale electronics manufacturing, white goods (e.g. refrigerators, washing machines, etc.), textiles, medical device manufacturing, vehicles, special types of steel, food products, high-efficiency solar PV modules, advanced chemistry cell batteries, drones and pharmaceuticals. Are. The total outlay of this scheme is Rs 1.97 lakh crore. The scheme is performing quite well in sectors like electronics, pharma and medical devices. 32 beneficiaries were approved under the PLI scheme for large scale electronics manufacturing including mobile phones and specified electronic components. The distribution of incentives is proposed by the concerned ministries/departments that are implementing the scheme. It is considered by the empowered committee.
It includes representatives from NITI Aayog, Department for Promotion of Industry and Internal Trade, Ministry of Electronics and Information Technology and Department of Expenditure, Department of Revenue, Department of Economic Affairs and Directorate General of Foreign Trade (DGFT). The committee gives its recommendations for distribution of incentive amount to the beneficiaries selected under the PLI scheme. In areas where PLI disbursement is low or companies are not able to meet their performance thresholds, the departments concerned are considering reforms in the scheme. High-level review meetings have been held in recent times to review the progress of the scheme. Another official expressed hope that the payments would speed up soon.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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