HomePoliticsCabinet Secretary Reviews Progress...

Cabinet Secretary Reviews Progress of PLI Scheme in Certain Sectors


The Cabinet Secretary recently conducted a review of the progress made under the Production-Linked Incentive (PLI) scheme in certain sectors. The PLI scheme was introduced in 2021 for 14 sectors including telecommunications, white goods, textiles, medical devices, automobiles, specialty steel, food products, high-efficiency solar PV modules, advanced chemistry cell batteries, drones, and pharmaceuticals. The scheme has a total budget of Rs 1.97 lakh crore.

During the review, the Cabinet Secretary assessed the implementation of the PLI scheme and its impact on the growth and development of the designated sectors. The objective of the PLI scheme is to enhance domestic manufacturing capabilities, attract investments, boost exports, and generate employment opportunities in key sectors of the economy.

Based on the review, it is reported that significant progress has been made in the implementation of the PLI scheme. The scheme has contributed to increased production, investment, and job creation in the designated sectors. The Cabinet Secretary expressed satisfaction with the progress and emphasized the need to continue the momentum.

Considering the positive outcomes and potential of the PLI scheme, it is expected that another meeting will be held soon to discuss the way forward and explore opportunities for further expansion of the scheme. The government is committed to supporting and promoting domestic manufacturing, and the PLI scheme is an important tool in achieving this objective.

The PLI scheme has already attracted significant interest and participation from industry players in various sectors. It provides financial incentives to eligible companies based on the incremental sales of products manufactured in India. The scheme aims to make Indian manufacturing globally competitive and position the country as a preferred investment destination.

Overall, the review of the PLI scheme highlights its effectiveness in driving growth and competitiveness in key sectors of the economy. The government’s continued focus on promoting and expanding the scheme is expected to further boost manufacturing, investments, and job creation in India.



Source link

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

Read Now

Elden Ring DLC Gameplay Reveal Trailer Confirmed for Wednesday – IGN

Our first look at Elden Ring: Shadow of the Erdtree will arrive in the form of a trailer tomorrow morning, FromSoftware and Bandai Namco have announced.The game’s official X/Twitter account revealed the news in a social media post, promising to deliver a first look at the...

Rays Sign Amed Rosario To One-Year Deal

5:10pm: The Rays have now made it official, announcing that they have signed Rosario. To open a roster spot, Rasmussen was placed on the 60-day IL. 2:45pm: The Rays and infielder Amed Rosario are in agreement on a one-year, $1.5MM deal, per Jeff Passan of ESPN. The...

Amazon to join Dow Jones Industrial Average, reflecting ‘evolving nature of American economy’

Last Updated: Feb. 20, 2024 at 5:52 p.m. ET First Published: Feb. 20, 2024 at 5:32 p.m. ET Amazon.com Inc. is set to join the Dow Jones Industrial Average in a week, a move meant to reflect...

Hunter Biden’s lawyer says informant charged with lying ‘infected’ the case

Hunter Biden’s lawyers argued in a court filing Tuesday that the indictment last week of an FBI informant for allegedly lying about the first family has tainted the federal charges against the president’s son.The filing in Delaware federal court shows how Biden’s lawyers are moving quickly...

‘Porky’s’ star Tony Ganios dead at 64 after his ‘heart stopped’

Celebrities By Erin Keller Published Feb. 20, 2024, 5:12 p.m. ET Tony Ganios, star of the sex comedy “Porky’s” and numerous other cult classic films, has reportedly died. He was 64. TMZ broke the news Tuesday after an X account from someone claiming to be Ganios’ longtime fiancée, Amanda...

Biotech Crashes 74% After Unexpected Liver Failure Sidelines Two Tests

Biotech stock Rapt Therapeutics (RAPT) plummeted to a record low Tuesday after the Food and Drug Administration put two of its clinical studies on hold. X The company is testing a drug called zelnecirnon as a treatment for eczema and asthma. But in a midstage test, one eczema...

Gemini on your phone but Google Assistant in your ears

In testing the Gemini app over the past week, my usage of Google Assistant through Pixel Buds Pro has skyrocketed, and I’m actually liking the balance. 9to5Google has a rebooted newsletter that highlights the biggest Google stories with added commentary and other tidbits. Sign up to get...

CFP board approves move to 5+7 model for 2024

The College Football Playoff Board of Managers on Tuesday voted unanimously to revise the format of the 12-team event to include the five highest-ranked conference champions and seven at-large bids, finalizing an adjustment from the original “6+6” model. The board, which is made up of 11 chancellors...

Helldivers 2 Patch 1.000.10 Takes Aim at Matchmaking, PC Black Screen, and Preps for Increased Server Capacity – IGN

Helldivers 2 Patch 1.000.10 is starting to roll out on Steam and PS5, which developer Arrowhead hopes will address some of the numerous issues that fans have encountered over the past week. Chief among them are issues with matchmaking and server issues, as well as the...

Ed Kelce teases whether son Travis will travel to Australia to see Taylor Swift perform

Music By Sydney Champagne Published Feb. 20, 2024, 2:28 p.m. ET Travis Kelce’s dad still doesn’t know if his son will be traveling to Sydney, Australia to join Taylor Swift on her Eras Tour concert. When asked about any upcoming travel plans, Ed Kelce told the Sydney Herald Square...

Sen. Rick Scott asks ‘border czar’ Kamala Harris to preside over Mayorkas impeachment trial: ‘You should be keenly interested’

Politics By Josh Christenson Published Feb. 20, 2024, 2:26 p.m. ET Sen. Rick Scott (R-Fla.) mocked Vice President Kamala Harris Tuesday by asking her to preside over the upcoming impeachment trial of Homeland Security Secretary Alejandro Mayorkas — noting that as President Biden’s “border czar,” the veep “should be...

NBC Sports California names Chris Caray as A’s play-by-play announcer

NBC SPORTS CALIFORNIA NAMES CHRIS CARAY PLAY-BY-PLAY ANNOUNCER FOR THE OAKLAND ATHLETICS Fourth Generation MLB Announcer Joins A’s Primary TV Play-by-Play Voice Jenny Cavnar SAN FRANCISCO – Feb. 20, 2024 – NBC Sports California named Chris Caray play-by-play announcer for its live-game coverage of the Oakland Athletics, it...