New Delhi: To boost production in the country, PLI Scheme i.e. Production Linked Incentive (PLI) scheme area will be increased. The government has made full preparations for this. Currently, 13 production linked promotion schemes have been launched. These schemes have been launched after the transition of cores to employ more people in the manufacturing unit and encourage production.
Prime Minister Narendra Modi said that the PLI Under the plan, manufacturing output could rise to 20 520 billion over the next five years. In a webinar on Friday, Modi said industries would be encouraged to invest more in such schemes. He said multi-modal infrastructure would be built under Ease of Doing Business to reduce logistics costs.
Before last Diwali, the government had approved the Production Linked Incentive Scheme. P.L.I. Under the scheme, the central government will spend Rs. 1.46 lakh crore. 57000 crore for automobile and auto components, Rs. 15000 crore, Rs. 12,000 crore for telecom network and infrastructure, Rs. 10,000 crore for PLI, textile and food products sector, Rs. 10,000 crore for solar photovoltaic sector. 4500 crore and Rs. 6300 crore has been announced for the textile sector.
Aim to make India a manufacturing hub
India accounts for only 16 per cent of GDP. If India is to become a manufacturing hub, its share will have to increase. India has high imports and low exports. So far many efforts have been made to reduce imports and increase production, but with little success. Therefore, the government has decided that the Production Linked Incentive Scheme should be implemented in 10 major sectors of production.