The Heavy Industries Ministry is engaged in close coordination with stakeholders on the Production Linked Incentive scheme which also covers the automobile sector and hopefully it will be rolled out very soon, a top official said on Friday.
"Government has come out with a huge outlay for production linked incentives in the manufacturing sector, a big factor of which is auto. So the size is going to be approximately ₹1.5 lakh crore.
"We are now in close coordination with the stakeholders to work out the details and hopefully it will be seeing the light of the day in the final shape very soon," Secretary in the Heavy Industries Ministry Arun Goel said at a CII Summit.
The Department of Heavy Industries frames and implements policies for the auto sector.
"We are now in close coordination with the stakeholders to work out the details and hopefully it will be seeing the light of the day in the final shape very soon," Goel said.
The Union Cabinet last month approved a Production Linked Incentive (PLI) scheme worth ₹1.46 lakh crore for 10 sectors to boost domestic manufacturing, create jobs and reduce the dependence on imports.
(Also read | PLI scheme signals 'dramatic shift' in attitude towards industry: Anand Mahindra)
The scheme will be offered to white goods manufacturing, pharma, auto, telecom, textile, food products, solar photovoltaic and cell battery, among others, with a total outlay of ₹1,45,980 crore spread over five years.
Of the total outlay, the largest share — ₹57,042 crore — goes to auto and auto components, followed by advance chemistry cell battery ( ₹18,100 crore), drug makers (15,000 crore), telecom products ( ₹12,195 crore), food products ₹(10,900 crore) and textile manufacturers (10,683 crore).
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