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We need to evaluate for course corrections in PLI scheme - Secretary, DPIIT
BUSINESS ECONOMICS
|July 1 - 31, 2023
The Government of India is set to evaluate the reasons behind the slow disbursement of funds for different sectors under the Production Linked Investment (PLI) scheme. Rajesh Kumar Singh, Secretary in the Department of Promotion of Industry and Internal Trade (DPIIT), highlighted this issue during a discussion in New Delhi, as reported by the Economic Times on June 14. Singh acknowledged that while they are hopeful of utilizing ₹1.97 lakh crore for the scheme, some course correction may be necessary at the individual scheme level.
Singh's statement holds significance as the government had announced the PLI scheme for 14 sectors, including telecommunications, white goods, textiles, and pharmaceuticals, with a total outlay of ₹1.97 lakh crore. However, only ₹2,900 crore has been disbursed out of the ₹3,400 crore claims received as of March 2023. Another report indicates that only two or three sectors are expected to meet their first-year targets under the scheme. Launched in March 2020, the PLI scheme received funds for the first time in the Budget for 2021-22.
This story is from the July 1 - 31, 2023 edition of BUSINESS ECONOMICS.
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