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Union Home Minister Amit Shah Says Production-Linked Incentive In Key Sectors Will Boost Economy

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PLI aimed toward linking India to the worldwide worth chain and constructing a self-reliant India: Amit Shah

New Delhi:

Union Home Minister Amit Shah on Wednesday mentioned the union cupboard’s approval to introduce the Production-Linked Incentive (PLI) Scheme in 10 key sectors will give the fitting impetus to the Indian economic system and is aimed toward selling job creation.

The Home Minister mentioned in tweets that the transfer is aimed toward selling job creation, linking India to the worldwide worth chain & constructing a self-reliant India.

“Today is a historic day for India as the Union Cabinet under the visionary leadership of PM @narendramodi ji approved Production Linked Incentive (PLI) for 10 identified sunrise sectors. An incentive of about Rs 2,00,000 Cr will be provided to them over the next 5 years,” Mr Shah mentioned.

“PLI will give the right impetus to the Indian economy. Its aimed at promoting job creation, linking India to the global value chain and building a self-reliant India. With this landmark decision of PM @narendramodi, India will become an important manufacturing and investment hub,” he added.

He additionally hailed the CCEA determination relating to viability hole funding.

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“I thank PM @narendramodi and Union Cabinet for extending the ”Viability Gap Funding” to the social sector on PPP basis. Infrastructure projects related to education, health among others will be given a major boost. This will also lead to the strengthening of the social sector,” he mentioned.

The Union Cabinet on Wednesday gave its approval to introduce the Production-Linked Incentive (PLI) Scheme within the following 10 key sectors for enhancing India’s manufacturing capabilities and exports.

The authorized monetary outlay for the ten sectors over 5 yr interval is Rs 1,45,980 crore.

The ten sectors recognized beneath the scheme are–Advanced chemistry cell (ACC) battery (authorized monetary outlay over a 5 yr interval of Rs 18,100 crore), digital/expertise merchandise (Rs 5,000 crore), vehicle and auto element (Rs 57,042 crore), prescribed drugs and medicines (Rs 15,000 crore), telecom and networking merchandise (12,195 crore), textile merchandise (Rs 10,683 crore), meals merchandise (Rs 10,900 crore), excessive effectivity photo voltaic photovoltaic modules (Rs 4,500 crore), white items (ACs and LEDs) (Rs 6,238 crore) and specialty metal (Rs 6,322 crore).

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