Categories: Business

Cabinet can approve the revised pli scheme for the automatic sector

New Delhi: Union Cabinet is likely to approve the revised incentive (PLI) incentive (PLI) scheme for the car sector, which aims to promote domestic manufacture and create fields, according to sources.
The government is believed to have cut expenses for this PLI scheme around Rs 26,000 Crore, they said.
Last year, the government has announced a scheme for the automotive sector and car components with RS 57,043 crore expenditure, intended for five years.
“The cabinet can take a proposal in a meeting tomorrow (on Wednesday),” said one source.
Sources do not disclose the reason for revising the scheme to Rs 25,938 Crore, but states that focus is now more on electric batteries and hydrogen fuel cell vehicles.
The expected component segment will be included in the scheme including automatic transmission assembly, electronic power steering system, sensor, supercapacitor, sunroof, adaptive front lighting, automatic braking, tire pressure monitoring system, and collision warning system.
Previously, the Siam Automatic Industry Agency said the scheme announced by the government would increase the competitiveness and take the growth of this sector to the next level.
The scheme for this sector is part of the overall incentive related to the production announced for 13 sectors in the Union 2021-22 budget with 1.97 lakh crore rs expenditure.
The PLI scheme will help bring a scale in the main sectors and create and maintain global champions

news2in

Share
Published by
news2in

Recent Posts

44 ordered to attack the procession

Ludhiana: The police have submitted FIR to four identified and at least 40 unknown attackers…

3 years ago

Punjab: Police Reject conspiracy theory in the case of Deep Sidhu

Sonīpat / Ludhiana / Ambala: Actor Punjabi - Activist Activist Deep Sidhu, who died in…

3 years ago

Punjab: Hidden Strength Working Behind PM Narendra Modi, Arvind Kejriwal, said Rahul Gandhi

PATIALA / MANSA / BARNALA: Attacking Prime Minister Narendra Modi and AAP National Convener Kejriawal,…

3 years ago

BJP made AAP to endanger the Congress, said Ajay

Jalandhar: BJP and AAM AAM AADMI parties are one party, Secretary General of the Ajay…

3 years ago

Our job is to make Punjab No. 1 State: Meenakshi Lekhi

Ludhiana: Minister of Union Culture Meenakshi Lekhi while campaigning to support the BJP candidate from…

3 years ago

Feb 20 is an opportunity to change the destiny of Punjab and his children: Bhagwant Mann

Machhiwara (Ludhiana): AAM AAM AADMI Party (AAP) Head of Punjab Candidate and Members of Parliament…

3 years ago