The Union budget has given an allocation of Rs.8083 crore to the Production Linked Incentive (PIL). The bulk amount is going to the large scale electronics which are still under manufacturing pharma, auto & auto components and food processing.
Out of 13, 10 PLI schemes are covered under the segment . 99% of the money has enmakred across the government, ministries and departments. The allocation given is Rs.4,499 crore to the large scale electronics manufacturings which also includes the mobile tickets. This has given a equal number of home grown mobile makers with a minimum sales of Rs.50,000 crore before FY24 (this would be the double of FY23. As compared to FY 23, the maximum ceiling would be Rs.1,20,000 crore.
The pharma sector has got a allotment of Rs.1200 crore. Most of the products from the pharma industry has ben crossing Rs.100 crore for the medical devices and for promoting the domestic manufacturing of critical keys. Rs.604 crore has been allotted to the PLI scheme for which the bills will be raised in FY24. The prices will be doubled (Rs.1530 crore).
The PLIs are not allotted for new money especially in the telecom industry. This is to promote the entire value chain of telecom production. The approavals were cleared in the month of October 2022. PLI scheme will be a flagship programme to encourage the manufacturing . Till December 2022, there were 717 applications which are approved by 13 schemes. There are Rs.47500 crore of investment made so far. Out of this, sales of Rs.3.85 trillion of eligible products and employement has been generated for 300,000 people, With this, 106% achievement has been done for the correspondant projections as of FY22.
