The Narendra Modi government at the Center has launched a new scheme for companies to promote manufacturing in the country and to create a global hub. This is called the Production Linked Incentive Scheme (PLI).
Prime Minister Narendra Modi addressed the Chief Ministers of the states at the Sixth Governing Council meeting on Saturday. During this time, the PM said that the Central Government has introduced PLI Schemes for various sectors. This is a great opportunity to increase manufacturing in the country. States should also take full advantage of this scheme and attract more and more investment. PM Modi says that the country can no longer wait for development, working together will bring success.
Let’s know about the PLI scheme…
The Central Government has introduced the PLI scheme to promote manufacturing in the country. Through this, companies are given special concession as well as financial assistance for setting up and exporting their units in India.
What is the government’s preparation
In the next five years, an incentive of Rs 1.46 lakh crore will be given to companies producing in the country. With this, the expenditure on import of India will be reduced by becoming a product in the country. When goods are made in the country, new employment opportunities will also be created.
Experts say that under this scheme, foreign companies will be helped to set up factories in India as well as domestic companies to set up plants. This plan is for 5 years.
PLI Scheme: 50 thousand people can get jobs by March! Know what is the plan
In this, companies will get cash incentive. All the emerging sectors such as automobiles, networking products, food processing, advanced chemistry, telecom, pharma, and solar PV manufacturing can be taken advantage of this scheme.
केंद्र सरकार ने विभिन्न सेक्टर्स के लिए PLI schemes शुरू की हैं।
ये देश में मैन्यूफैक्चरिंग बढ़ाने का बेहतरीन अवसर है।
राज्यों को भी इस स्कीम का पूरा लाभ लेते हुए अपने यहां ज्यादा से ज्यादा निवेश आकर्षित करना चाहिए: PM
— PMO India (@PMOIndia) February 20, 2021
Experts say that the government wants to encourage manufacturing by turning the wheel of economy fast. Under this, the PLI scheme is being promoted. The manufacturing sector is more likely to have employment, hence the government’s full emphasis on the PLI scheme.
What will happen with this
After Pharma, now an incentive scheme of Rs 12,195 crore has been made under the PLI for manufacturing telecom equipment. The government hopes that under this scheme, telecom equipment worth Rs 2,44,200 crore will be produced in the next five years.
Opportunities will be created for new jobs
In a statement issued by the government, it has been said that this will generate 40 thousand direct and indirect jobs. This will lead to export of 1.95 lakh crore rupees. In this case, a total tax revenue of Rs 17000 crore will be generated. Through this, the government wants to include India among the top 3 smartphone producing countries in the world.
Salary hike alert! Bank employees to get 15 percent annual hike in wages
According to the report of the research firm, the announcement of PLI is a major step in telecom manufacturing. Due to this, local companies in the country can get a tax rebate of 4 to 6 percent.
From the second PLI investment of Rs 1.46 lakh crore, about 62 percent investment will be made on cars, batteries and medicines. The government’s efforts to promote local manufacturing will be the biggest beneficiaries of electric car, batteries, food processing and clothing companies.
