A senior official of the Department for Promotion of Industry and Internal Trade (DPIIT) said that the government has released Rs 2,874.71 crore to the beneficiaries of the production-linked incentive scheme till March.
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The government has so far released Rs 2,874 crore to the businessmen who have availed the facility of PLI scheme. Most of the companies in 8 sectors like Electronics, Telecom, Pharma and Food Processing have shown their interest to take advantage of PLI facility. A senior official of the Department for Promotion of Industry and Internal Trade (DPIIT) said the government has released Rs 2,874.71 crore till March to the beneficiaries of the production-linked incentive scheme, which covers eight sectors such as electronics, telecom, pharma and food processing. Most companies are covered.
Rajeev Singh Thakur, additional secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), said these eight sectors are doing well, while some need to pick up the pace. The scheme was announced in 2020 for 14 sectors with an outlay of Rs 1.97 lakh crore to increase domestic manufacturing capacity and boost exports.
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The eight sectors are large scale electronics manufacturing, electronics and technology products, bulk drugs, medical devices, pharmaceuticals, telecom and networking products, food items, and drones, of which over Rs 2,800 crore has already been distributed. The next two-three years will be crucial and things will move at a faster pace in these years. 717 applications have been approved in 14 sectors with an estimated investment of Rs 2.74 lakh crore till December 2022.
53,500 crore investment received
According to DPIIT, a physical investment of Rs 53,500 crore has been received so far, resulting in production/sales of over Rs 5 lakh crore and employment to over 3 lakh people. The maximum amount of Rs 1,649 was distributed in the electronics sector. This was followed by Pharma (Rs 652 cr), Food products (Rs 486 cr), Telecom (Rs 35 cr), Drones (Rs 30 cr), Medical devices (Rs 12.8 cr), and Electronics (Rs 5.3 cr) and Bulk drugs (Rs 5.3 cr). 4.34 crores).
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Demand coming from these industries
Explain that other sectors where the Production Linked Incentive (PLI) scheme has been expanded include white goods, specialty steel, advanced chemical cells, auto components and textiles. When asked about the plan to include more sectors under the scheme, the officials said that demands are coming from various industries but no decision has been taken yet. Things will move at a reasonable rate in the next 2-3 years.