Modi Cabinet meeting approves PLI scheme for IT sector, announces subsidy on fertilizer

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The Union Cabinet meeting was held today under the chairmanship of Prime Minister Narendra Modi. In this meeting, the Cabinet approved many important decisions. Union Minister Ashwini Vaishnav and Union Minister Mansukh Mandaviya gave information about the meeting in a press conference.

 

 

IT hardware will be covered under PLI Scheme 2

Union Cabinet met today. After the meeting, Union Minister Ashwini Vaishnav said that the country has generated $100 billion in electronics manufacturing this year. Along with this, last year there was a record export of mobile phones worth 11 billion dollars. For IT hardware sector Rs. 17,000 crore production-linked incentive scheme has been approved. The Union Minister further said that the duration of this program is six years. Personal computer servers equipped with IT hardware like laptops, tablets, all equipment will come under PLI Scheme 2. The minister said that under this incentive scheme, revenue of Rs 3.35 lakh crore and investment of Rs 2,430 crore is estimated.

 

People are expected to get employment

The Union Minister said that 75 thousand people are expected to get direct employment from this scheme. In the telecom manufacturing sector, 42 companies in the first year made Rs. 900 crore instead of Rs. 1600 crore has been invested. The government has spent Rs. Approved the first PLI scheme in February 2021 with an outlay of Rs 7,350 crore. This includes personal computers with laptops, tablets, all accessories and servers.

Announcement of subsidy on fertilizer

The central government had announced subsidy on fertiliser. In this regard, 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 that farmers get fertilizer on time, but did not increase the MRP. He further said that for the kharif crop, the government has decided that the government of India will not increase the price of fertilizers. Government of India will spend 1 lakh 8 thousand crore rupees in subsidy for Kharif season crops.