What is PLI as recently introduced by government?

production-linked incentive scheme
This is where you will employ PLI or a production-linked incentive scheme. The PLI is an old and popular tool with governments to spur production of goods that the country sees as necessary for social good, taxes, or employment-generation reasons. PLIs are essentially the incentives to companies to boost product.

How many PLI schemes are approved?

31 companies approved for Telecom PLI scheme.

When was PLI scheme introduced?

In November 2020, the Government of India announced the second edition of production-linked incentives (PLI) schemes across 10 key sectors. The PLI schemes were launched with the intention of scaling up domestic manufacturing facilities, accompanied by higher import substitution and employment generation.

Why was PLI scheme launched?

The PLI scheme is being launched by DoT with the objective to boost domestic manufacturing in the telecom and networking products by incentivising incremental investments and turnover with total outlay of ₹12,195 crore, the ministry said in a statement.

What is PLI scheme Drishti IAS?

PLI scheme, introduced in March 2020, aims to give companies incentives on incremental sales from products manufactured in domestic units. Apart from inviting foreign companies to set shop in India, it also aims to encourage local companies to set up or expand existing manufacturing units.

Who will implement PLI scheme?

The scheme shall be implemented through a Project Management Agency (PMA). The incentive under the scheme would be paid for six years ending 2026-27. The incentive payable for a particular year will be due for payment in the following year. The duration of the scheme will be six years i.e. 2021-22 to 2026-27.

What is PLI full form?

Postal Life Insurance (PLI) was introduced on 1st February 1884.It started as a welfare scheme for the benefit of postal employees and was later extended to the employees of the Telegraph Department in 1888.

Who is implementing PLI scheme?

The implementing agency for these schemes is the Department of Pharmaceuticals. White goods: Total incentives applicable under the PLI scheme for white goods (Air Conditioners and LED Lights) will cost the government INR 62.38 billion (US$831.27 million).