Govt readying subsidy for rare earth magnets

Scheme set to be rolled out in 15-20 days to reduce China link, says Kumaraswamy

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The government will take a decision on rolling out a scheme to subsidise domestic production of rare earth magnets in 15-20 days, Union Minister H D Kumaraswamy said on Tuesday. Stakeholder consultations are underway to determine the quantum of subsidy under the scheme. If the total incentives involved cross Rs 1,000 crore, the scheme will be sent to the Union Cabinet for a