New Delhi : A senior government official said on Monday that the central government is looking at expanding the scope of the production-based incentive or ‘PLI’ scheme to include other sectors as well. The scheme was implemented in March 2020 with an aim to increase production and export capacity in the country.
14 manufacturing sectors were included in the scheme launched by the central government to boost domestic production and reduce the import bill. There is now a demand to include sectors such as some electrical equipment, pharmaceutical manufacturing and medical equipment. Along with this, discussions are also going on to start PLI scheme for toys, furniture, cycles and containers.
The central government has launched a scheme to achieve the objectives of making India a global manufacturing hub, allowing domestic manufacturers to compete globally, attracting investors and increasing exports. Production based incentive scheme of Rs 2 lakh crore was approved for 14 important industrial sectors last year. In this, incentives were given related to the production of products like AC, refrigerator, pharmaceutical manufacturing, steel making, automatic machine and vehicle manufacturing, telecommunication, textile industry, food manufacturing, battery manufacturing etc. The scheme is expected to generate additional generation of Rs 10.69 lakh crore and provide employment to seven lakh people.
what is the plan?
The central government announced the ‘PLI’ scheme to boost domestic production and reduce import costs. The objective of which is to encourage companies to increase sales of products manufactured in domestic manufacturing plants. 14 regions of the country have been selected for the ‘PLI’ scheme. Under which the Central Government will provide Production Based Incentive Fund to the manufacturing companies in the country. Apart from inviting foreign companies to India, the scheme also aims to encourage local companies to expand manufacturing plants.
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