Friday , September 20 2024

Government approves PLI scheme for IT, hardware sector

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The Union Cabinet meeting took place on Wednesday. Union Minister Ashwini Vaishnav said that the country has produced 100 billion dollars this year in the field of electronics manufacturing. With this, there was a record export of mobile phones worth $11 billion last year. For IT hardware sector Rs. 17,000 crore Production Linked Incentive (PLI) scheme has been approved. This plan is for six years.

 

Possibility of investment of 2400 crores
Also further said that there is a possibility of investment of 2400 crores and a target of 75000 direct and indirect employment has been fixed. Investment is likely to increase. The Union Minister said that 42 companies in the telecom manufacturing sector had to invest Rs 900 crore in the first year, instead an investment of Rs 1600 crore has been made. Union Minister Mansukh Mandaviya said that the cabinet has allocated Rs. Rs 1.08 lakh crore has been approved for fertilizer subsidy.

The incentive amount received in the scheme will also be increased

Explain that the cabinet is considering giving subsidy for manufacturing of laptops, PC tablet servers in India and it may be announced soon. Not only this, the government can also increase the incentives available in the scheme. According to the information, under the revised package, the validity of the scheme is being increased from April 1 to eight years. But applicants can choose the starting date as April 1, 2024 or April 1, 2025. This scheme will be applicable for six years. According to the information, the company will be given incentive at the rate of 5.3 per cent for 6 years. Earlier this year, Minister of State for IT Rajeev Chandrasekhar had said that the government would soon launch a new Production-Linked Incentive (PLI) scheme. To support the manufacturers of IT hardware and computer servers.

1.08 lakh crore fertilizer subsidy
The Union Cabinet approved Rs. Rs 1.08 lakh crore has been approved for fertilizer subsidy. The Union Cabinet has allocated Rs. Fertilizer subsidy of 1.08 lakh crore has also been approved. Union Ministers Mansukh Mandaviya and Ashwini Vaishnav informed about the decisions taken during the meeting.

Union Minister Mansukh Mandaviya said that 325 to 350 lakh metric tonnes of urea is used in the country. 100 to 125 lakh metric tonnes of DAP and NPK are used. 50-60 lakh metric tonnes of MOP is used. The Modi government increased the subsidy to ensure timely delivery of fertilizers to the farmers, but did not increase the MRP. For Kharif crops, the Government has decided that the Government of India will not increase the prices of fertilizers. Government of India will spend 1 lakh 8 thousand crore rupees in subsidy for Kharif season crops.