Explorer

Empowered Committee In PLI Scheme Signs Off On Rs 1,000 Crore Disbursement For Beneficiaries In Electronics Sector

The disbursement would mark the first one in the current fiscal. As of March' 23, the government distributed Rs 2,900 crore, out of total claims worth Rs 3,400 crore under the scheme.

The Empowered Committee in production-linked incentive (PLI) scheme approved a disbursement of Rs 1,000 crore to beneficiary firms of the electronics sector, a senior government official said. The committee in a recent meeting approved the disbursement of funds, while the actual fund allotment would take place in some days, the official revealed. 

As of March 2023, the government distributed Rs 2,900 crore, out of total claims worth Rs 3,400 crore under the scheme, reported PTI. The scheme plans to encourage domestic manufacturing, generate jobs, and support exports. The disbursement of Rs 1,000 crore would mark the first one in the current fiscal year. The PLI scheme was announced in 2021, for 14 sectors, including large-scale electronic manufacturing, white goods, textiles, manufacturing of medical devices, automobiles, specialty steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones and pharmaceuticals with an outlay of Rs 1.97 lakh crore.

The report further noted that the scheme has been performing well in sectors like electronics, pharma, and medical devices. About 32 beneficiaries have received approval under the PLI scheme for large-scale electronics manufacturing, including mobile phones and certain electronic components. 

Notably, the responsibility for proposing the disbursement lies with the respective ministries/departments. These ministries/departments are also accountable for implementing the scheme. It is considered by the Empowered Committee comprising NITI Aayog, department for promotion of industry and internal trade, ministry of electronics and informational technology, and representatives from the Department of Expenditure, Department of Revenue, Department of Economic Affairs and office of DGFT (directorate general of foreign trade). 

The committee offers it’s recommendations for distributing the incentives to chosen beneficiaries under the PLI scheme. The respective departments also look at course corrections in the scheme with regards to sectors where the disbursement is low or the companies are unable to meet their performance targets. Notably, high-level review meetings have taken place recently to review the scheme progress. 

Another official stated that there is hope that the disbursements will improve soon. Healthy PLI perfoming sectors include large-scale electronics manufacturing, pharma, food processing, and white goods. On the other hand, sectors like high-efficiency solar PV modules, advanced chemistry cell (ACC) batteries, textile products and speciality steel, are not performing well. 

Also Read : Indian Biogas Association Receives Pledge For New Investments Worth Rs 2,755 Crore

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

Priyanka Gandhi To Contest Wayanad Lok Sabha Bypoll, Rahul Keeps Family Seat Raebareli
Priyanka Gandhi To Contest From Wayanad, Rahul Keeps Raebareli
'MHA Will Talk To Kukis, Meiteis To Bridge Ethnic Divide': Amit Shah Reviews Manipur's Security Situation
'MHA Will Talk To Kukis, Meiteis To Bridge Ethnic Divide': Amit Shah Reviews Manipur's Security Situation
Priyanka Gandhi Enters Electoral Politics Finally. A Look At Her Political Journey So Far
Priyanka Gandhi Enters Electoral Politics Finally. A Look At Her Political Journey So Far
'Won't Let Wayanad Feel Rahul Gandhi's Absence': Priyanka Gandhi Vadra On Poll Debut From Kerala
'Won't Let Wayanad Feel Rahul Gandhi's Absence': Priyanka Gandhi On Poll Debut From Kerala
Advertisement
metaverse

Videos

Delhi Water Crisis: People are longing for every drop in Delhi, who is responsible? | ABP NewsDelhi Water Crisis: Severe heat causing water scarcity for Delhi residents, chaos erupts for water tankersWeather Update: Heatwave to Persist in Northern India, Including Delhi. Find out where the monsoon is stalledWest Bengal Train Accident: Pawan Khera Criticizes the Central Government Over the West Bengal Train Accident

Photo Gallery

Embed widget