Business

Govt Disburses ₹1,596 Crore Under PLI Schemes For Six Sectors

The government has released ₹1,596 crore under its Production-Linked Incentive (PLI) schemes for six sectors from April to September this fiscal year, an official confirmed.

The PLI scheme, launched in 2021, targets 14 sectors, including electronics, pharma, textiles, automobiles, and more, with a total outlay of ₹1.97 lakh crore.

Of the ₹1,596 crore disbursed, the largest share—₹964 crore—went to large-scale electronics manufacturing. The pharma sector received ₹604 crore, while smaller amounts were allocated to food products (₹11 crore), telecom (₹9 crore), bulk drugs (₹6 crore), and drones (₹2 crore).

Cumulatively, ₹9,721 crore has been disbursed under the scheme until 2023-24. The official highlighted the positive impact of these incentives on India’s MSME sector. “The PLI scheme is creating a cascading effect, building a new supplier base in every sector, especially in MSMEs,” the official said.

By August 2024, investments of ₹1.46 lakh crore have been realized across 14 sectors. This has led to an increase in production and sales worth over ₹12.50 lakh crore, generated over 9.5 lakh jobs, and boosted exports beyond ₹4 lakh crore. So far, over 760 applications have been approved.

Each department overseeing its respective PLI scheme is responsible for disbursing the incentives.

Shibra Arshad

Recent Posts

JP Nadda Slams Rahul Gandhi’s ‘Match-Fixing’ Claims As ‘Desperation Of Losing’ Polls

Rahul Gandhi's opinion piece appeared in a national daily and sparked political uproar. Opposition parties…

6 hours ago

Poverty In India Reduced Via Tangible Boost In Household Living Standards, Incomes

In 2022–23, poverty under the revised $3.00 line stood at just 5.25 per cent in…

6 hours ago

Chhattisgarh: Seven Maoists Killed In Indravati National Park Operation

Five Maoists were killed in two separate encounters with security forces in Chhattisgarh’s Bijapur district,…

7 hours ago

Carney Invites Modi To G7 Summit, Highlights India’s Global Supply Chain Role

Canadian Prime Minister Mark Carney said the most populous country, with the fifth-largest economy, must…

7 hours ago

RBI Frontloads Rate Cuts To Boost Growth Amid Low Inflation: Crisil

The Reserve Bank of India (RBI) has frontloaded its rate cuts to support economic growth,…

8 hours ago

PM Modi Urges Global Action On Coastal Resilience At Nice Summit

PM Narendra Modi on Saturday called for urgent global action to build infrastructure that can…

8 hours ago