Govt extends PLI for auto, parts by a year to FY28
Financial Express Mumbai|January 02, 2024
THE CENTRE HAS extended the tenure of the production-linked incentive (PLI) scheme for automobiles and auto components by a year to 2027-28, with some modifications aimed at giving some flexibility to companies for the rollout of investments.

However, the overall investment quantum required for the benefit over the tenure of the scheme will remain unchanged.

The release of incentives will now start from 2024-25, instead of the current fiscal, the ministry of heavy industries said on Monday The move follows the fact that companies other than Tata Motors and Mahindra & Mahindra are yet to obtain the certificates of eligibility for relevant products. This would mean that the current year's budget outlay for the scheme would remain unspent.

"Under the amended scheme, the incentive will be applicable for a total of five consecutive financial years, starting from the financial year 2023-24.

This story is from the January 02, 2024 edition of Financial Express Mumbai.

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This story is from the January 02, 2024 edition of Financial Express Mumbai.

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