A high-level committee government has raised concern over continued delays in payment to companies in the production linked incentive (PLI) schemes, Business Standard has learnt.
The committee has called for "corrective steps" across departments for smooth implementation of the Centre's flagship scheme to boost domestic manufacturing. The government had allocated 1.97 trillion for 14 PLI schemes three years ago in sectors as diverse as mobiles, drones, solar, telecom, textile, and automobiles. As of December 2023, investment worth 1.06 trillion has been made and nearly 500,000 jobs created, according to government data.
The committee, tasked with reviewing PLI schemes, is chaired by the Cabinet secretary with representations from the Department for Promotion of Industry and Internal Trade (DPIIT), NITI Aayog, the Department of Economic Affairs, and the Department of Financial Services.
This story is from the June 24, 2024 edition of Business Standard.
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This story is from the June 24, 2024 edition of Business Standard.
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