Central government to introduce 7-8 PLI schemes in next Budget: Report
- IBEF
- November 4, 2022
The central government may introduce 7-8 new production-linked incentive (PLI) programmes in the forthcoming Union Budget in an effort to drive privatisation even further. According to a Financial Express (FE) report, the schemes will cover textiles, electronic components, furniture, toys, and leather. The aim for capital expenditures may also rise. Capex could be increased from Rs. 7.5 trillion (US$ 90.42 billion) this year to Rs. 10 trillion (US$ 120.56 billion) in FY24.
The government has already implemented 14 PLI initiatives since 2020. According to FE, these plans are likely to enhance manufacturing by US$ 500 billion by 2025. Three PLI programmes of Rs. 51,311 crore (US$ 6.18 billion) were launched in March 2020. These were distributed to manufacturers of mobile components, pharmaceutical substances, and medical devices. In the second round, 11 plans totalling Rs 1.46 trillion (US$ 17.6 billion) were authorised in November 2020. Food products, drones, and telecommunications were among them.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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