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Union cabinet approved Production Linked Incentive (PLI) Scheme on November 11, 2020. Finance Minister, Nirmala Sitharaman announced the scheme. The main aim of this scheme is to boost production and exports. Thereby more employment opportunities will be generated. Currently this scheme is approved for 10 sectors in the economy which includes advanced chemistry cell battery, food products, white goods, textile, networking products, automobiles, electronic products, specialty steel, pharma and telecom. This is a crucial step towards Aatmanirbhar Bharat and it empowers the same vision.
Scheme Overview:
| Scheme name: | Production Linked Incentive (PLI) Scheme |
| Scheme Under: | Central Government |
| Launch Date: | November 11, 2020 |
| Beneficiaries: | Sectors like advanced chemistry cell battery, food products, white goods, textile, networking products, automobiles, electronic products, specialty steel, pharma and telecom. |
| Major Objective: | To boost production and exports thereby generating huge employment opportunities |
List of scheme lunched by Central Government
Scheme Objectives and Benefits:
- The main objective of the scheme is to increase production and attract foreign investors thereby increasing exports
- This scheme will enable to generate employment opportunities in various sectors of the economy
- Under this scheme manufacturing sector in the economy is at the core
- This scheme will also enable increased productivity and innovation
- In the long run, it will impact increased economic growth ad development
- It is a crucial step towards Aatmanirbhar Bharat and Make in India mission.
Scheme Details:
- Production Linked Incentive (PLI) scheme is approved by the Union cabinet on November 11, 2020
- This scheme focuses to boost the manufacturing sector thereby increasing production
- Currently this scheme covers 10 sectors namely advanced chemistry cell battery, food products, white goods, textile, networking products, automobiles, electronic products, specialty steel, pharma and telecom
- It also aims at increasing exports in the country
- It also tends to increase employment opportunities
- This scheme will be implemented by concerned department wise ministries
- Savings from any one sector may be utilized for another sector
- Any new sector will require fresh approval of the cabinet
- This scheme will enable a wide scope for new ideas and new innovations
- It boosts manufacturing sector thereby aiming to curb imports and increase exports
- It will lead to increased economic growth in the long run
- PLI scheme is a vital step towards Aatmanirbhar Bharat and Make in India mission
- Estimated expenditure of the scheme is of about Rs. 2 lakh crores.
