Until March 2023, an amount of Rs 2,900 Crore has been allocated by the government, but out of claims worth Rs 3,400 crore received under the scheme
A senior government official has now told the media that an outlay of Rs 1000 crore has been approved by the Empowered Committee in PLI Scheme for the benefits of the Indian electronics industry. Until March 2023, an amount of Rs 2,900 Crore has been allocated by the government, but out of claims worth Rs 3,400 crore received under the scheme, which expects to augment in-house manufacturing, increase employment opportunities, and also escalate exports.
The anonymous official told PTI, “In the recent meeting of the committee, Rs 1,000 crore disbursements were approved under the PLI scheme for the electronics sector. Actual disbursement to the beneficiary companies would take a few more days.” For this financial quarter, this is the first disbursement by the government as incentive.
The PLI scheme was announced back in 2021 during the time of pandemic, which has targeted around 14 industrial sectors that comprises 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.
As of now, sectors such as medical devices, electronics, and pharma sectors are largely benefited by the scheme and around 32 beneficiaries has been approved under the PLI scheme for large-scale manufacturing, which includes specified electronics components and mobile phone manufacturing. The proposals for the incentives disbursal are presented by respected ministries or the departments, which are implementing the scheme.
Now, the final consideration is done by the Empowered Committee that includes NITI Aayog, department for promotion of industry and internal trade, ministry of information and technology, representatives from the Department of Expenditure, Department of Revenue, Department of Economic Affairs, and office of DGFT. According to the PTI report, the committee gives its recommendations for disbursal of incentive to the selected beneficiary under the PLI scheme.
