Today, the Union Cabinet has passed the production linked incentive (PLI) for 10 key critical industry sectors. The total budget outlay of the incentive is INR 145980 Crores to be spent over a period of 5 years. Out of the total outlay over one-third outlay is planned for Automobile sector which will definitely give more thrust to clean energy vehicles and help to revive the shrinking automobile sector.
The PLI scheme will be implemented by the concerned ministries/departments and subsequently approved by Cabinet. Further, interesting point to note is that the PLI announced by the Cabinet today will be in addition to existing PLI given for mobile and specific electronic manufacturing, Drug intermediaries and Active Pharma Ingredients (API) and medical devices.
Press Release: https://pib.gov.in/PressReleasePage.aspx?PRID=1671912
Further, the cabinet has also approved revamping of scheme for financial support to Public Private Partnership (PPP) in Infrastructure Viability Gap Funding (VGF). It provides for setting up of 2 sub schemes i.e. the 1st scheme to provide support to social sector such as Waste Water Treatment, Water Supply, Solid Waste Management, Health and Education sectors and the 2nd scheme to provide support to social projects from Health and Education sectors.
Press Release: https://pib.gov.in/PressReleasePage.aspx?PRID=1671910
